FCA Plans To Expand Its Money Laundering Crimes Oversight And Now Includes Crypto-Businesses. UK's financial watchdog released a 57-page Consultation Paper on Monday, revealing the expansion of its oversight of the financial services sector to include crypto startups and exchanges. Money laundering costs the global economy anywhere from $800 billion to $2 trillion each year, which is equivalent to 2% to 5% of the world’s gross domestic product. The FCA said the consultation period is open for feedback from interested parties until 23 November 2020.
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Olivier Acuna
@olivier-acuna
Journalist since 1984. In Web3 since 2018. Writer, reporter, ghostwriter, marketing, and Public Relations.