The UK’s FCA publish a comprehensive roadmap to regulate crypto assets by 2026.
26/11/2024
The Plans Key Features:-
- This initiative comes as crypto ownership in the UK rises, with 12% of UK adults owning crypto assets.
- The FCA aims to provide clarity and confidence in the crypto market, encouraging further growth and innovation.
- The plan aims to create a safe, competitive, and sustainable market for cryptocurrencies in the UK.
Here are some key points from the roadmap:-
- Consultation and Discussion Papers: Starting in 2024, the FCA will release a series of papers covering topics such as market abuse, stablecoins, custody, and prudential elements.
- Final Policy Statements: The FCA aims to publish final policy statements by 2026 to establish a clear regulatory framework.
- Consumer Protection: The roadmap emphasises protecting consumers from scams and ensuring they understand the risks involved in crypto investments.
- Market Integrity: The FCA plans to work closely with the government, international partners, and industry stakeholders to ensure market integrity and foster innovation.
Source:
- FCA kicks off crypto regulation roadmap as UK investments surge. https://uk.finance.yahoo.com/news/crypto-bitcoin-uk-regulation-fca-060015817.html.
- 12% of UK adults own crypto, and the FCA prepares to take action. https://www.msn.com/en-us/money/markets/12-of-uk-adults-now-own-crypto-fca-prepares-for-action/ar-AA1uMpeZ.
- https://www.fca.org.uk/publication/documents/crypto-roadmap.pdf
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