UK watchdog defends ‘too tough’ digital currency standards

Quick Summary:

The FCA's blockchain and digital currency standards focus on AML/CFT compliance, consumer protection, communications standards, operational resilience, and stablecoin-specific regulations.

The post UK watchdog defends too tough’ digital currency standards appeared first on CoinGeek.

On the operational resilience front, the FCA requires firms to safeguard customer funds, implement safeguards against cyber threats, and have a framework for managing operational and security risks.

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Article Details

Author / Journalist: Gavin Lucas

Category: Crypto

Markets: CanadaChinaHong KongMacauSingaporeVietnam

Topics: Financial Conduct Authority Regulation Anti-Money Laundering Business Tokenization United Kingdom

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 08:00:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 660 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 23363202

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News Last Updated: 13 hours ago

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