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Topic: [2016-08-23] UK Financial Regulator Considers Approving Blockchain Startups (Read 253 times)
August 23, 2016, 11:29:59 AM
August 23, 2016, 10:58:31 AM
The U.K.’s Financial Conduct Authority (FCA) is thinking about approving a number of blockchain companies as it actively encourages businesses to utilize bitcoin’s underlying technology.
Despite the fact that some regulators are cautious over the use of blockchain technology, the U.K.’s FCA is known as the most forward-thinking.
It comes as no surprise then, that in an interview with the Financial Times, Chris Woolard, the FCA’s director of strategy and competition, explained that the FCA believes that the blockchain technology has some potentially interesting applications.
He said:
We are talking to firms thinking about how to apply that to financial services and how it could benefit consumers or indeed make the business of compliance easier. There may be areas where we might want to encourage it a bit.
https://www.cryptocoinsnews.com/uk-regulator-considers-approving-blockchain-startups/
Despite the fact that some regulators are cautious over the use of blockchain technology, the U.K.’s FCA is known as the most forward-thinking.
It comes as no surprise then, that in an interview with the Financial Times, Chris Woolard, the FCA’s director of strategy and competition, explained that the FCA believes that the blockchain technology has some potentially interesting applications.
He said:
We are talking to firms thinking about how to apply that to financial services and how it could benefit consumers or indeed make the business of compliance easier. There may be areas where we might want to encourage it a bit.
https://www.cryptocoinsnews.com/uk-regulator-considers-approving-blockchain-startups/
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