More Crypto Regulation is Needed, Says the Bank of England

The Bank of England has urged policymakers to broaden crypto market regulation, but many British businesses are already irritated by present norms and regulations.

The Financial Policy Committee of the Bank of England has urged for more regulation of the cryptocurrency business.

Meanwhile, many crypto companies in the United Kingdom are failing to comply with existing legislation.
By March 31, cryptocurrency businesses must register with the Financial Conduct Authority, but several have complained that the government is taking too long to process the applications.

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