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UK FCA CEO says ‘anything crypto-related should not be entitled to compensation’
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ambcrypto.comBritain’s Financial Conduct Authority Chief Executive, Nikhil Rathi recently raised caution in the crypto sector. The regulatory body has maintained the stance that crypto-related losses should not be eligible for compensation schemes on the back of illicit activities in the space.
Some time back, FCA had also released a ‘Discussion Paper’ that discussed that crypto investors could be denied Britain’s compensation program when companies go bust. In this context, Rathi had stated,
“I would suggest we simply say that anything crypto-related should not be entitled to compensation, that consumers are clear about that when they are investing.”
As per the report, Rathi commented that crypto space will need to “draw some pretty clear lines” around
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