Kraken’s co-CEO Arjun Sethi isn’t holding back. He’s blasting the UK’s Financial Conduct Authority for crypto rules that he says are killing the user experience. In a recent interview, Sethi compared the risk warnings plastered all over UK crypto sites to those scary labels on cigarette boxes.
His point is pretty clear. Opening any crypto website in the UK, including Kraken’s own, feels like you’re being warned that what you’re about to do might destroy your life. The FCA introduced these rules back in 2023, requiring platforms to show big warnings and make users jump through hoops, like answering questionnaires, before they can invest.
Sethi says UK users are missing out on over 75% of the products that American customers can access. The extra steps and restrictions aren’t making things safer; they’re just making everything slower and more frustrating. He thinks the warnings are so aggressive that they actually discourage people from investing at all.
The FCA doesn’t see it that way. They say if some people decide crypto isn’t for them after reading the warnings, that’s exactly what’s supposed to happen. But Sethi and other crypto executives argue the UK is falling behind while trying too hard to protect people.
Conclusion
Kraken’s criticism highlights growing tensions between crypto companies and UK regulators, as executives argue that overly cautious policies are hindering innovation and limiting consumer choice in digital finance.
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