Tiptoeing through cryptocurrency
Following FCA guidance, firms must tread carefully when dealing in crypto-assets, says Suchitra Nair
After 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:
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