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The UK's National Audit Office (NAO) released a report titled "Financial Services Regulation: Adapting to Change" on Friday, noting that the UK's Financial Conduct Authority (FCA) revealed that it had dealt with more than 1,400 cryptocurrency cases between January 2020 and June 2023. The financial services industry is also undergoing significant transformation, with the rapid development of new products such as crypto assets and technologies such as artificial intelligence providing opportunities for innovation, but also creating risks for businesses and consumers that the FCA must plan for.
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