Arjun Sethi, co-CEO of Kraken, has voiced concerns over the UK's crypto regulations, claiming they obstruct customer services. In a Financial Times interview, he likened the warnings on crypto websites to cigarette packaging, arguing that they detract from user experience. Sethi emphasized that lengthy disclosures hinder trading speed, which is crucial in the crypto market. The UK's Financial Conduct Authority (FCA) recently implemented a new financial promotion regime, introducing a 'cooling-off' period for new investors and requiring firms to evaluate users' knowledge before allowing trades. Sethi warned that these regulations might discourage potential investors, leading to lost opportunities. The FCA defended its rules, stating they help consumers make informed decisions. Meanwhile, discussions are underway for a collaborative 'sandbox' between the UK and US to align their crypto markets. The Bank of England has also proposed a regulatory framework for stablecoins, indicating a move towards more structured oversight in the crypto sector. Read more AI-generated news on: https://app.chaingpt.org/news