Sam Bankman-Fried – FTX’s co-founder and CEO – said the tension between his company and the UK’s top financial regulator – FCA – was unexpected. But both sides have discussed regulatory requirements. “It’s been a while.”
earlier this week The British agency confirmed that FTX does not have the necessary licenses to offer crypto products and services in the country.
ingive an interviewOf The Financial Times, Sam Bankman-Fried revealed that the FTX and FCA had “had been having discussions about licensing for a while.”warnThe British said the FTX had no right to operate in the Kingdom.
He further explained that The agency may want to warn people about scams that impersonate the company’s name.
But whatever the reason, this 30-year-old billionaire vows to obey regulators. “We believe we comply with UK regulations. But it will take immediate action if we are advised by regulators.”
At present, companies that want to provide services and products cryptocurrency in the UK Must be registered with the FCA first and have anti-money laundering procedures. They must obtain licenses such as payments and derivatives.
The post FTX CEO says the FCA warning was unexpected. But the two sides discussed regulations. “It’s been a while” appeared first on Bitcoin Addict.