UK FCA crypto skills gap is causing slow enforcement, says National Audit Office

The National Audit Office (NAO) in the United Kingdom has raised concerns about the effectiveness of the Financial Conduct Authority (FCA) in regulating the cryptocurrency industry.

In a recent report titled ‘Financial services regulation: adapting to change,’ the NAO has claimed that the FCA is being slow to respond and take action against illicit activities in the crypto industry.

High staff turnover rates and a lack of specialist skills increase risk to @TheFCA’s key commitments.

It has responded by recruiting and spending £317m on its change programme.

This should help it prepare financial services for the future.


— National Audit… Read more on Cointelegraph

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