FCA Says the Crypto Industry Doesn’t Want Them to regulate DeFi

Crypto advocates told the Financial Conduct Authority (FCA), the U.K.’s financial watchdog, that decentralized finance (DeFi) shouldn’t be regulated because it is too difficult to do so.

In May, the FCA hosted its first two-day CryptoSprint, where 184 industry participants from the U.K. and other countries gathered to hear the FCA’s thoughts on how the industry should be regulated. Suggestions made by industry representatives – which included company executives, compliance officers and lawyers – were published on the FCA’s website on Wednesday.

Source: FCA Says the Crypto Industry Doesn’t Want Them to regulate DeFi