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As cryptocurrency continues to attract mainstream attention, hacks and scams are making it hard for crypto to flinch from the word controversy.
And because of the fundamental role being played by crypto exchanges in the overall ecosystem along with its tie-up with conventional finance, we need to understand what it has to do with regulation, how it is done and whether you as a crypto exchange should get in line.
To understand the current picture of regulation, Jamie Mcnaught the Founder, CEO, and Lead Engineer of Solidi Digital Currency Exchange gives us a better view.
What are the practical implications and the practical benefits for consumers of a crypto business that is regulated and registered with the FCA?
What are some of the challenges of FCA registered crypto companies and what realistically is required to stop those scams from continuing to affect people and continuing to affect those companies that are registered?
Why do you think so few companies have been registered so far?
What reasons do you see would being regulated be considered as fully advantageous?
Are there any alternatives that you see to registrations that will help businesses enter the market quickly at potentially a lesser cost than going through the registration process?
How long it would take to get registered in the UK?
What protections are there for people dealing with crypto exchanges that are registered as opposed to ones that aren’t?
What are some of the risks for companies who are still on the waiting list to being registered?
What do you expect to see in the coming 12 to 18 months? Do you expect to see a lot more companies added to that list? Or are you expecting to see the majority of the companies being removed from that?
Meet Jamie McNaught
Jamie is a Fintech Entrepreneur - Founder of Solidi Crypto Currency Exchange. He has been in the Crypto & Blockchain space since 2011 and considers himself to have a deep experience in PSD & PSD2, eMoney, Payment Institute regs. Jamie is also an OpenBanking evangelist (it's about time!) and is currently part of the FCA Sandbox programme
Jamie also does occasional speaking and lecturing engagements, for anyone interested please contact him directly to discuss.
Contact Solidi Digital Currency Exchange and Jamie