According to a recent survey conducted by BlockFi, 1 in 10
people gifted blockchain-linked digital tokens over the festive
period. The 'boom' in recent years has a lot to say for
those who are converting their high street 'tokens' to
blockchain-linked digital tokens, in order to invest for the
future, rather than investing in retail therapy.
The Financial Conduct Authority (FCA) released its Policy
Statement on 'crypto assets' (PS19/22) in July 2019, which
divides 'crypto assets' into three subcategories:
unregulated tokens (such as BTC, BSV and XRP); e-money tokens; and
security tokens.
Unregulated Tokens
The FCA considers unregulated tokens and their purchase, sale
and exchange outside the regulatory perimeter - that is, the
Financial Services and Markets Act (Regulated Activities) 2001, the
Second Markets in Financial Instruments Directive 2004 (MiFID II)
and Electronic Money Regulations 2011 ("EMRs").
