UK Tightens Crypto Rules: Ban on Borrowing for Investments

The UK’s Financial Conduct Authority (FCA) is set to enforce strict new rules targeting cryptocurrency investments. A ban on borrowing money from traditional financial institutions to invest in cryptocurrencies will come into effect, alongside other regulations aimed at the rapidly growing market. David Geale, FCA executive director of payments and digital finance, emphasized the need for consumer protection measures while acknowledging potential growth opportunities for UK’s crypto sector. He clarified that the FCA is committed to a safe and competitive regulatory environment that attracts businesses to the UK. )