UK financial regulators solemnly announce the blockchain ...

The UK's Financial Conduct Authority (FCA) says there is no plan to regulate the blockchain industry because it believes the technology will require "growth" in space.
The news was released yesterday in a speech by Christopher Woolard, director of strategy and competition at the UK's Financial Conduct Authority, who focused on innovation at the start of the London Fintech Tech week.
Woolard described innovation as an "iterative process," which he said is critical for innovators to provide space to develop their solutions. He further constructed the development of distributed ledger technology as a potential revolution in the financial services industry, but he cautioned that whether the technology was "a panacea for all ills in the financial sector" remains to be seen.
Regarding the status of the authorities in the area of blockchain corporate governance, Woolard said:
"The Financial Conduct Authority continues to oversee the development of the technology, but takes a stand when it knows its applications are clearer." ”
Woolard went on to point out that he believes there is still "regulatory and consumer issues" that will need to be explored in depth with the development of technology, such as how individuals access distributed financial networks and which entities can control access rights.
In addition, he cited users ' data security ratings as a further "important consideration" for the Financial Conduct Authority.
The Financial Conduct Authority regulates domestic financial institutions that provide services to consumers and is also responsible for helping to maintain the integrity of the UK financial markets.