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ARTICLE · 02 FEBRUARY 2022

A Guide To The FCA's Approach To Crypto Assets

BCL Solicitors LLP
BCL Solicitors LLP
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The FCA's approach to crypto assets is a good example of the issues raised by the UK's complex system of financial conduct laws.

United KingdomTechnology
John Binns
John Binns
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In this guide BCL Partner, John Binns explains the FCA's approach to crypto assets.

The FCA's approach to crypto assets is a good example of the issues raised by the UK's complex system of financial conduct laws.

Are crypto assets regulated?

Issuing crypto assets is not itself a regulated activity under FSMA and the RAO. Whether it falls inside or outside the FCA's regulatory perimeter will depend on the nature of the asset involved, on which it has issued guidance.

Sales of derivatives that reference certain kinds of crypto asset have been banned since October 2020.

HM Treasury announced in January 2022 that it will amend the FPO so that the promotion of certain 'qualifying' crypto assets will only be lawful if done by (or approved by) an authorised firm.

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