Former UK FCA Policy Official: 'Huge Gap' Between Crypto Ambitions and Regulatory Practice

CoinFeed June 24 news, according to CoinDesk report, former UK Financial Conduct Authority (FCA) official, current Hedera Global Policy Vice President Isadora Arredondo said that the UK's progress in building a 'global crypto hub' has slowed, mainly because regulatory resources have been diverted by Brexit, pandemic response, and multiple wealth management blow-up incidents, causing crypto to shift from a priority to a marginal issue. She pointed out that the UK is actively exploring tokenization in institutional and wholesale markets through projects such as the digital securities sandbox, but for startup teams and retail-facing crypto businesses, it still relies on old regulatory framework approval, with lengthy and complex processes, lacking dedicated rules similar to the EU's MiCA.