What is the fine-grained topic of the following text: The chief executive of the UK’s Financial Conduct Authority (FCA), Andrew Baily, said in a speech during the regulating body’s Annual Public Meeting that the financial regulator needs to take a balanced approach in, “nurturing the benefits of cryptos while narrowing out the risks.” Expanding, Baily said the FCA would work closely with the UK’s Treasury and Bank of England in coming up with appropriate responses to crypto regulation. Only return the topic.
UK Financial Conduct Authority's approach towards crypto regulation