McDermott Comment | UK Financial Regulator To Boost Enforcement Operations Against ‘Problem Firms’


Arvin Abraham, a partner at law firm McDermott Will & Emery, said:

“The FCA is walking a fine line between advancing regulation which is necessary to protect consumers and increase the ultimate growth and adoption of crypto assets, while at the same time not having a short term chilling effect on the UK market. The ideal course of action is for the UK crypto-asset industry to take an active role in the development of the new regulations by participating in the FCA consultations to ensure future regulation is properly calibrated to the industry’s needs.”