UK Financial conduct (FCA) requests comments on the regulation of cryptocurrency trading platforms, saying that clear regulations will strengthen trust in the sector and stimulate its growth.
The FCA published a discussion Friday May 2 and declared in a press release That he accepts comments until June 13. After examining these comments, the regulator will offer potential rules later this year.
“Currently largely not regulated, we want to create a cryptographic regime which gives companies the clarity they need to innovate in complete safety, while offering appropriate levels of market integrity and consumer protection”, ” David Gealesaid the executive director of digital payments and finance at the FCA, in the press release. “Our goal is to stimulate the lasting and long-term growth of crypto in the United Kingdom, we ask if we have the right balance.”
The discussion document covers the intermediaries, the development, loans and loans, decentralized finance and use of credit to buy Crypto, according to the press release.
This is the latest political publication in the FCA Cryptographic roadmapwhich also includes the examination of other areas in which there could be future regulations, such as market abuses and admissions and disclosure, stablecoins and custody, and prudential consideration, according to the press release.
The publication of the newspaper also follows the publication of the new FCA five -year strategy This will see the regulator favor “smarter regulations”, supporting sustained economic growth, consumer education and the fight against financial crimes, according to the press release.
When he published his Cryptocurrency regulations Roadmap in November, the FCA said that by describing a series of “targeted consultations”, it aimed to make the development of policies transparent and to help people participate by making the process more manageable and flexible.
The regulator said that he would work with the government, international partners, industry and consumers to “do well the future rules”.
At that time, according to the FCA, 12% of British adults had a crypto, 93% were aware of the crypto and 10% said they had done no research before buying crypto.
It was reported on Tuesday, April 29, that the British government planned to work with US officials to regulate the cryptocurrency Industry and that the two countries will hold talks “to support the use and responsible growth of digital assets”.
