UK FCA Publishes Comprehensive Cryptoasset Regulation Regime

The UK Financial Conduct Authority (FCA) has published a comprehensive regime for regulating cryptoassets. In a series of five policy statements and three finalised guidance papers, the FCA outlines the rules for various aspects of the cryptoasset market.

The regime covers topics such as admissions and disclosures, market abuse, segregation, record-keeping, and prudential requirements for firms dealing with cryptoassets. The FCA has also consulted on non-handbook guidance for international cryptoasset firms, dispute resolution, and compensation.

The rules are intended to ensure that firms operating in the UK comply with existing regulations and adapt to the specific needs of the cryptoasset market. However, industry stakeholders have expressed concerns about the complexity and scope of the regime.