The country’s financial regulator, the FCA currently has powers to ensure crypto companies register and comply with anti-money laundering rules, but it doesn’t have the ability to protect consumers from any losses they might suffer. While the Financial Services and Markets Bill that’s currently under debate in parliament and is expected to become law in April will give the FCA more power to regulate crypto, consumer loss protection won’t be included.
Source: https://www.coindesk.com/policy/2023/03/08/uks-fca-cant-protect-crypto-investors-from-losses-says-agencys-ceo/?utm_medium=referral&utm_source=rss&utm_campaign=headlines