The UK’s FCA – Financial Conduct Authority Released an update, guidance on crypto assets

  • The FCA are keen for people to remain very much informed about the crypto industry.
  • There are onl 15 out of 231 cryptocurrency exchanges across the world that are found in the United Kingdom.

 

Earlier in the week, the UK’s financial watchdog, FCA, did release details on a non-final version of a report known as, “Guidance on Cryptoassets”. In terms of a final version, this will be published late on this year, around summer 2019, after they have concluded a consultation period.

This is served to educate and assist consumers understand the extent to which cryptocurrencies and the crypto market are regulated. It will inform users to beware of possible risks, attached to the crypto industry.

Further, the FCA hopes this will also allow firms dealing with certain crypto assets to assess whether they are acting within the UK’s regulatory framework.

In the report it notes that there are only 15 out of 231 cryptocurrency exchanges across the world that are found in the United Kingdom. However, the FCA and its Taskforce focused on crypto assets, believe it is critical to monitor and keep up with the growth of the industry.

 

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