U.K. businesses and analysts have hit back at government plans to regulate cryptocurrencies and related technology, describing them as a “blunt instrument approach,” British daily news outlet the Telegraph reported Monday, Oct. 29.
Calls to step up the level of power the country’s finance regulator, the Financial Conduct Authority (FCA), has over cryptocurrency — which Cointelegraph reported on in September — allegedly focus on consumer protection and anti-money laundering (AML) policy.