Incoming FCA Chair Thinks Crypto Firms Like FTX are Deliberately Evasive

“We expect all authorized and registered firms to have appropriate systems and controls to counter the risk of being misused for financial crime. We have seen too many financial crime red flags missed by the crypto asset businesses seeking registration with us for anti-money laundering and counter terrorist financing purposes,” an FCA spokesperson said to clarify its current stance on crypto. “We work with crypto firms to help them understand our expectations, and if they can meet the conditions for registration, we will register them. Forty crypto firms have gained registration and shows these standards are achievable.”