The Financial Conduct Authority in the UK is seeking views on the future regulation of specific cryptoasset activities, ahead of legislation to bring them within regulation. The authority beleave that „clear crypto regulation will boost confidence in the sector, supporting growth”.
In this latest discussion paper (DP), the FCA is seeking views on intermediaries, staking, lending and borrowing, and decentralised finance.
With more people using credit to purchase crypto, the DP also considers whether restrictions should be applied in that area.
David Geale, executive director of payments and digital finance at the FCA, said:
‘Crypto is a growing industry. Currently largely unregulated, we want to create a crypto regime that gives firms the clarity they need to safely innovate, while delivering appropriate levels of market integrity and consumer protection. Our aim is to drive sustainable, long-term growth of crypto in the UK. We’re asking whether we have got the balance right.‘
This is the latest policy publication in the FCA’s Crypto Roadmap which provides a clear timeline for consulting on future crypto regulation. Other areas in the roadmap include market abuse and admissions and disclosures, stablecoins and custody, and prudential considerations.
This discussion paper follows the publication of draft legislation by the Treasury that, once passed, will bring specific cryptoasset activities within the FCA’s regulation. The DP reflects insights gained from a series of FCA-led industry roundtables.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below: