In a bid to provide transparency to the Financial Conduct Authority’s regulatory perimeter for market participants involved in the crypto-asset market, U.K’s financial regulatory body has released a ‘Guidance on Crypto-assets Consultation Paper [CP 19/3]’ on Wednesday.
According to the final version of the issued paper, the guidance is relevant to all firms involved in the issuing, creating, holding, storing, marketing products and services associated with crypto-assets, as well as firms buying or selling crypto-assets. The guidance will also apply to professional advisers, investment managers, recognized investment exchanges, multi-lateral trading facilities and organized trading facilities, as well as to the consumers and consumer organizations.
In the said Consultation Paper, the FCA took account of the various categories of crypto-assets that were previously defined in the U.K’s Crypto-asset Taskforce Report [CATF], to assess whether these crypto-assets fall under the regulatory watchdog’s jurisdiction. The paper consists of most of the proposed guidance that was released in January 2019.
This story is presently being updated…