A Dec. 16 press release stated that the UK Financial Conduct Authority had begun a public consultative process to refine regulations regarding cryptocurrency.
The initiative signals the FCA’s commitment to crafting a balanced framework that nurtures innovation while addressing risks in the crypto sector. It seeks to address pressing challenges, such as market abuse, financial fraud, and unclear disclosures, which undermine consumer trust.
These proposals aim to improve trading transparency, and promote fair practices. The FCA hopes that by providing clear guidelines, it will build a trustworthy and sustainable market for crypto in the UK. This should encourage growth and investment.
The regulator says:
“We are also suggesting certain firms, like authorised crypto trading platforms, share information with each other to help stop suspected market abuse. This will reduce fraud and help promote good practices in the sector.”
In addition to ensuring that fraudulent tokens are not spread, efforts will be made to restrict unregistered cryptocurrency firms. Although public offerings for certain cryptos may be restricted, platforms and services which comply with the regulations will receive specific exemptions.
The consultation forms part of the UK government’s broader strategy to establish a robust legal framework for crypto. This framework will build on the initial plans that were announced in 2023, eventually covering trading, asset custody and stablecoin supervision. In 2025, a draft regulation will be released. The full implementation is scheduled for 2026.
The collaboration is part of the FCA’s aim to create an environment where innovation can thrive without compromising market integrity or consumer protection.
The consultation period will be from 16 December to 14 March 2025. It also added:
“We want to develop a crypto regime that is fair, balanced and proportionate for all. We need input from the Government, our international partners, industry and consumers to help us get the future rules right.”
Postings: UK, Featured Regulation Author 
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AJ has been a journalist for more than a decade, and he’s done it all over the world. He specializes in financial reporting and now concentrates on cryptocurrency.
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