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UK: FCA Extends helping hand to regulate Bitcoin

By  |  February 24, 2016

The UK Financial Conduct Authority (FCA) has said it does not plan to regulate the blockchain industry for now as it believes the technology will need “space” to grow.

The news was delivered yesterday in a speech by Christopher Woolard, the FCA’s director of strategy and competition, who took a focus on innovation at the start of London London Fintech Week.

Describing innovation as an “iterative process”, Woolard said that it is “crucial” that innovators are given space to develop their solutions. He further framed the development of distributed ledger technology as a potential revolution in financial services, though he cautioned it has yet to be seen if the tech is “the panacea of all ills in the financial world”.

Full content: CoinDesk

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