Regulation
UK Crypto Regulation Is ‘Catching Up’ to Other Markets While Maintaining ‘Bottom Up’ Advantages (Investment Week) | News & Events
Andrea Henderson, Financial sector, FinTechAND Private investment funds The partner explained the incremental “bottom up” approach to cryptocurrency regulation in the UK. “The UK has an advantage over EU member states, whose cryptocurrency-related activities will be subject to comprehensive and directly applicable EU regulation,” she said. Henderson added that the phased rollout and multiple consultations that have taken place in the UK have brought lawmakers closer to the industry and “able to listen”, even if the industry doesn’t always like what it gets. Henderson said this had not received a “warm reception”, as cryptoasset firms will have to become authorized by the FCA to market cryptoassets or hire FCA firms to approve their marketing material, but this provided legal certainty. The Treasury has announced its future regulatory plans for cryptoassets. “The new regime will be integrated with existing regulation of financial services and markets, creating a more level playing field.” More in Investment Week.