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Regulation

Firms reeling from crypto crash ‘now understand’ need for regulation, FCA boss Rathi says

'I can't look at [the crash] with glee, because there are a lot of consumers who lost an awful lot of money,' Nikhil Rathi said

Rathi noted it was not up to FCA but to the UK government to establish a crypto regulatory framework
Rathi noted it was not up to FCA but to the UK government to establish a crypto regulatory framework Photo: Getty Images

Crypto firms are starting to see the benefits of regulation according to the Financial Conduct Authority's chief executive, Nikhil Rathi.

“In the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,” he said at an event at the Peterson Institute for International Economics, a Washington-based think tank.

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