The Financial Conduct Authority (FCA) is seeking input from industry stakeholders to address abuse in the UK crypto market. The FCA is looking for feedback on their plans to tackle issues such as fraud and market manipulation within the cryptocurrency industry.
The FCA’s consultation paper outlines proposals for enhancing the regulatory framework for crypto assets. These proposals include expanding the scope of regulated activities, enhancing consumer protection measures, and improving market integrity.
Industry participants are encouraged to provide feedback on the FCA’s proposals by September 2021. The FCA aims to work collaboratively with stakeholders to develop effective solutions to address abuse in the UK crypto market.
This initiative reflects the FCA’s commitment to promoting a safe and transparent crypto market in the UK. By seeking input from industry stakeholders, the FCA hopes to create a regulatory framework that protects consumers and maintains market integrity in the rapidly evolving crypto industry.