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Tiptoeing through cryptocurrency

Following FCA guidance, firms must tread carefully when dealing in crypto-assets, says Suchitra Nair

FS Focus Dec 19 image CryptoAfter receiving feedback on its Consultation Paper issued in January 2019, the Financial Conduct Authority (FCA) has published its Final Guidance on crypto-assets, clarifying the types of crypto-assets and activities that fall within its “regulatory perimeter”. It also sets out the obligations for firms and regulatory protections for consumers, and considers the role of unregulated crypto-assets.

The Guidance runs to more than 50 pages, but there are seven key areas that firms operating in this market need to consider: