🚨 Crypto Wallets Under More Scrutiny in the UK?
The UK’s FCA is proposing enhanced checks for transfers involving personal crypto wallets under new draft guidance. The consultation is open until December 24.
What caught my attention is the regulator’s criticism of firms that rely on third-party risk scores without being able to explain how those scores are calculated.
In my view, crypto compliance should be about more than just flagging transactions. Platforms also need to understand the risks they identify and explain their decisions clearly.
Self-custody is one of crypto’s biggest advantages, but the industry still needs to find a balance between protecting users and respecting their control over their own assets.
The big question is: Can crypto platforms strengthen compliance without making personal wallets less practical for everyday users?
$BULLA $DOOD $ARIA
#Crypto #Binance #Bitcoin #CryptoRegulation #blockchain
The UK’s FCA is proposing enhanced checks for transfers involving personal crypto wallets under new draft guidance. The consultation is open until December 24.
What caught my attention is the regulator’s criticism of firms that rely on third-party risk scores without being able to explain how those scores are calculated.
In my view, crypto compliance should be about more than just flagging transactions. Platforms also need to understand the risks they identify and explain their decisions clearly.
Self-custody is one of crypto’s biggest advantages, but the industry still needs to find a balance between protecting users and respecting their control over their own assets.
The big question is: Can crypto platforms strengthen compliance without making personal wallets less practical for everyday users?
$BULLA $DOOD $ARIA
#Crypto #Binance #Bitcoin #CryptoRegulation #blockchain
