The FCA is consulting on Guidance for crypto-assets in order to provide regulatory clarity for market participants carrying on activities in this space.
The Final Guidance will help market participants to understand whether the crypto-assets they use are within the regulatory perimeter. This will alert market participants to pertinent issues and should help them better understand whether they need to be authorised and what rules or regulations apply to their business.
The Consultation Paper sets out where tokens are likely to be:
- Specified Investments under the Regulated Activities Order;
- Financial Instruments under the Markets in Financial Instruments Directive II;
- E-Money under the E-Money Regulations; or
- Captured under the Payment Services Regulations.
https://www.fca.org.uk/publications/consultation-papers/cp19-3-guidance-cryptoassets
