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FCA provides clarity on current cryptoassets regulation
The Guidance will help firms understand whether their cryptoasset activities fall under FCA regulation. This will allow firms to have a better understanding of whether they need to be authorised and what they need to do to ensure they are compliant. Christopher Woolard, executive director of Strategy and Competition at the FCA, commented: 'This is a small, complex and evolving market covering a broad range of activities. Today’s guidance will help clarify which cryptoasset activities fall inside our regulatory perimeter.' The majority of respondents supported the proposals outlined in the consultation. The FCA is ... (full story)
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Guidance on Cryptoassets
In our Guidance on Cryptoassets Consultation Paper (CP 19/3), we set out our position on cryptoassets in relation to the regulatory perimeter. The Guidance we consulted on aims to give market participants and interested stakeholders clarity on the types of cryptoassets that fall within the FCA’s regulatory remit and the resulting obligations on firms (in this paper, firms means market participants rather than ‘authorised persons’) and regulatory protections for consumers. It also provides information on those cryptoassets that are outside our perimeter, and what this means for firms and consumers. This Policy ... (full story)
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