RATE Group | UK Finance Watchdog Issues Guidance on Regulation for Bitcoin and Crypto Assets
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UK Finance Watchdog Issues Guidance on Regulation for Bitcoin and Crypto Assets

31 Jul UK Finance Watchdog Issues Guidance on Regulation for Bitcoin and Crypto Assets

Posted at 17:16h in Ethereum News by

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The U.K. Financial Conduct Authority (FCA) has finalized its guidance on crypto assets, clarifying which tokens fall under its jurisdiction.

Most of the rules issued Wednesday were proposed in consultation paper CP19, which was released for public comment in January. As widely expected, the final guidance does not drastically alter the regulatory landscape, instead specifying when certain types of crypto assets fall under existing categories.

True cryptocurrencies like bitcoin and ether, which the FCA classes “exchange tokens,” are not regulated, though anti-money-laundering rules apply.

The FCA said some 92 responses to the consultation paper were received from an assortment of firms, including banks, trade associations and crypto exchanges. Most respondents supported the proposals, said the FCA

Importantly, the guidance provides a definition of security tokens. When issued, these assets behave like shares or debt instruments, including ownership rights, thus…

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