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ARTICLE · 26 DECEMBER 2022

Does The Cryptocurrency Sector Finally Face Regulation?

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The collapse of FTX Trading Ltd. (FTX) and the subsequent arrest of Samuel Bankman-Fried, the founder, has yet again highlighted the significant risk that trading in cryptocurrency poses.

United KingdomTechnology
Joanna Bailey
Joanna Bailey
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The collapse of FTX Trading Ltd. (FTX) and the subsequent arrest of Samuel Bankman-Fried, the founder, has yet again highlighted the significant risk that trading in cryptocurrency poses. Crypto currency enjoys a reputation of being the "wild west" of financial investment sector. The regulating bodies in both Europe and the U.S.A have been murmuring about the need for regulation in this sector for some time and the domino effect of the FTX collapse has sharpened the need.

This comes at a time when there is about to be a change of leadership in the Financial Conduct Authority (FCA) in the UK. Ashley Alder, the incoming chair, has forcefully indicated that the crypto sector will face stringent regulation that may impede the somewhat slack attitude to accountability seen in some sections of this unique financial sector, which is in stark contrast to the wider financial industry that is subject to extensive regulation. Mr. Alder will leave his current post of chief

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