The UK plans to ban the public issuance of cryptocurrencies

2024-12-16 19:53:14
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ChainCatcher news, according to CoinDesk, the UK's Financial Conduct Authority (FCA) released a document on Monday revealing plans to ban public offerings of cryptocurrencies. The government will prohibit unregistered cryptocurrency companies from engaging with UK customers through new legislation, unless they are trading platforms or products that meet exemption criteria.

The document also seeks industry feedback on aspects such as market access, information disclosure, and market abuse regulation, as part of preparations for a comprehensive cryptocurrency regulatory framework. The FCA has been closely monitoring the crypto industry since 2020 and assessing its anti-money laundering compliance. A draft of the new regulatory regime is expected to be published next year, with plans for implementation in 2026.

The FCA aims to ensure that consumers have sufficient information to make informed decisions by collecting industry feedback and to reduce fraud through market abuse regulation.

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