Former FCA policy maker: 'Huge gap' between crypto ambitions and regulatory practices

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ME News reports that on June 25 (UTC+8), Isadora Arredondo, former UK Financial Conduct Authority (FCA) official and current Global Policy Vice President at Hedera, said that the pace of building a “global crypto hub” in the UK has slowed. She said the main reason is that regulatory resources have been diverted by Brexit, pandemic response efforts, and multiple financial product blowups, causing crypto to shift from a priority to a peripheral topic. She noted that the UK is actively exploring tokenization in institutional and wholesale markets through initiatives such as the digital securities sandbox, but for startup teams and retail-facing crypto businesses, approvals still rely on the old regulatory framework, making the process lengthy and complex, with no dedicated rules comparable to the EU’s MiCA. Arredondo believes that the key to the next phase of digital currency lies in interoperability and unified standards among different blockchains, stablecoins, and CBDCs. She added that the entry of current major institutions is more about traditional finance absorbing crypto concepts rather than rejecting the sector. (Source: PANews)
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