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UK’s FCA Points Letter to Banks Over Crypto Dangers


FCA

The UK’s Monetary Conduct Authority (FCA) issued a letter on Monday to financial institution CEOs over the potential dangers that they face when coping with cryptocurrencies.

A Letter from the FCA

Felony actions are synonymous with cryptocurrency use and the letter is alleged to recommend “good observe” that banks can observe to be vigilant in opposition to these actions.

In keeping with the FCA, the letter particulars how corporations ought to deal with monetary crime which will happen on account of “cryptoassets,” which the FCA defines as cryptocurrencies or any sort of “publicly out there digital medium of change that …

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