In January, the UK's Financial Conduct Authority (FCA)
released a consultation on potential guidance on
cryptoassets that provides useful direction on how cryptoassets
fall within the current regulatory regime. This consultation, one
of the publications resulting from the Cryptoasset Taskforce's
October 2018 final report, does not drastically alter the current
regulatory landscape, but rather provides clarity on the FCA's
current regulatory perimeter. The consultation also references a
consultation by Her Majesty's Treasury (HMT) that is expected
in early 2019, which will explore legislative changes and
potentially broaden the FCA's regulatory remit on
cryptoassets.
The FCA consultation on guidance asks for responses to the
questions it poses by April 2019. The FCA does not intend to
publish its final guidance until this summer; the guidance noted in
this consultation paper is subject to change and should not be
considered the FCA's definitive position. However,
