UK FCA Claims Crypto Platforms Facilitate Money Laundering

Global regulators have been railing against crypto over the past month, and their wild condemnations are becoming more extreme. The latest to make one of these ludicrous accusations is incoming FCA chair Ashley Alder. On Dec. 14, he told politicians that crypto platforms were “deliberately evasive,” facilitated money laundering at scale, and created “massively untoward risk.” Alder, who currently heads the Hong Kong Securities and Futures Commission, said crypto should be regulated further, adding: “Our experience to date of [crypto] platforms, whether FTX or others, is that they are deliberately evasive, they are a method by which money laundering happens in size,” He then went on to accuse crypto firms of “bundling a whole set of activities which are normally segregated,” causing increased risks.