Tony Craddock, director general of the Payments Association, warned that “overzealous” regulations could bump up costs for payment firms and cause a “flight of e-money firms” from the UK.

Speaking to City A.M. Craddock warned that a series of “well intended but misguided sets of regulations” risked eroding the City’s status as a leading hub of innovative payments.

https://www.cityam.com/new-fraud-rules-risk-a-flight-of-e-money-firms-from-uk-payments-chief-warns/