The new FCA chairman says that crypto companies make money laundering easier

The man who will lead the British efforts to regulate cryptocurrency companies shared the sector on Wednesday and told the MPs that in his experience in his experience, cryptoplate forms were "deliberately evasive", made money laundering easier and created "massively undesirable risks".

The comments by Ashley Alder, the new chairman of the Financial Conduct Authority, indicate that crypto companies that hope to build up companies in Great Britain will experience a tough struggle if the FCA takes over new powers to regulate broad parts of the sector.

You bring Alder, who will become FCA chairman in February, to a possible collision course with the endeavor of the government to create a high-quality crypto hub that promotes innovations, a vision that has remained loyal to the ministers, even if the global cryptoma market from one crisis into the other tumbles crisis, embodied by the collapse of FTX. The FCA refused to comment on whether the views of its new chairman contradict the government.

During a sometimes narrow appointment,

Alder's comments came before the cross -party selection committee of the Ministry of Finance, where he was suspended because he appeared practically from Hong Kong and was not familiar with a few parts of the British market and accountability.

"I think it should be regulated further," said Alder, who is currently Chief Executive of the Securities & Futures Commission in Hong Kong.

"Our previous experience of [Crypto] platforms, whether FTX or others, is that they are deliberately evasive, they are a method with the money laundering," said Alder, adding that the way in which crypto companies are "a whole range of activities that are normally separated. Conflicts of interest and not properly separate assets.

The FCA traditionally deals hard with its limited crypto order and rejected 80 percent of the companies that had submitted an application for inclusion in the commercial register of the supervisory authority and had passed the reviews to combat money laundering. The government completes plans to give the watchdogs broader powers, including monitoring advertising, sales practices and the management of crypto companies.

The FCA, which has to deal with its existing workload, is halfway in a transformation plan that Chief Executive Nikhil Rathi had promised that he would improve efficiency. When asked by MPs about the considerable personnel counter -reactions that the plan had triggered, including a recent statement that less than a third had confidence in the leadership of the FCA, Alder said: "You can only hope that this will improve".

he admitted that the FCA suffered from the perception that it failed to "ensure adequate protection for consumers", as well as "recurring questions about operational efficiency". Alder said that he is planning to move to Great Britain in January and will spend more than the two to three days, which are formally necessary for the role of the chairman, for the efforts to support the turn.

He also promised support for the government's plan to revise the “senior manager regime” introduced in 2016 in order to increase the individual accountability obligation after the financial crisis, and told the committee that a review to ensure that the package was still expedient to be “reasonable” forward ”.

On Tuesday, the governor of the Bank of England, Andrew Bailey, warned the government against abolishing too many rules after the financial crisis to boost the city and emphasized his support for the regime of senior managers.