Clear crypto regulation will improve the integrity of the UK’s crypto markets, help protect people and support the UK's growth and competitiveness.
Admissions and disclosures and market abuse regimes are crucial to improving the integrity and cleanliness of our crypto markets, as well as helping people make informed financial decisions.
Our Discussion Paper DP24/4 (Admissions & disclosures and market abuse regime for cryptoassets[2]) is part of a series of publications[3] that are designed to help us shape the UK’s crypto regime. It sets out proposals for firms to introduce strong controls that prevent harm. 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.
We encourage industry to share its expertise and help us shape the rules. We want industry to take the lead in developing new ways of disclosing important information to make sure people understand the risks before purchasing crypto.
The Discussion Paper reflects insights gained from a series of FCA-led crypto roundtables[4] we held with the industry earlier in the year. It also builds on the Government’s earlier consultation[5].
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. You have until 14 March 2025 to give us your feedback.
We continue to remind people that while we continue to develop the UK’s crypto regulation, crypto remains largely unregulated in the UK and high risk. If something goes wrong, it’s unlikely you will be protected and you should be prepared to lose all your money.
More information:
- This Discussion Paper is the first in a series following the Government setting out its approach to crypto.
- Find out more about the existing rules crypto firms must comply with[6].