<p><span style="font-weight: 400;">Ashley Alder, the UK’s next Financial Conduct Authority chair, had harsh words for crypto platforms as he addressed members of parliament, the <a href="https://www.ft.com/content/7bf0a760-5fb5-4146-b757-1acc5fc1dee5">Financial Times</a> first reported.</span></p> <p><span style="font-weight: 400;">Speaking at a cross-party Treasury select committee, Alder suggested that crypto “should be regulated further,” adding that crypto companies “are deliberately evasive” and “a method by which money laundering happens” at scale, according to the newspaper.</span></p> <p><span style="font-weight: 400;">The criticism from Alder comes as anti-money laundering tests held by the FCA ruled out 85% of firms that applied, according to FCA chief executive Nikhil Rath, who spoke earlier this year at a banking summit.</span></p> <p><span style="font-weight: 400;">Expected UK Treasury regulations are set to introduce consumer protections, impose limitations on foreign sellers, restrict product advertising and offer provisions when companies fail.</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>