On 31 July 2019, following the consultation launched in January 2019, the FCA published its feedback and final perimeter guidance on the regulatory treatment of cryptoassets.
The guidance aims to give clarity on the types of cryptoassets that fall within the FCA’s regulatory remit and the resulting obligations on market participants and regulatory protections for consumers. It also provides information on those cryptoassets that are outside of the FCA’s perimeter, and what this means for market participants and consumers.
The key points of interest are:
The FCA is currently consulting on a proposed prohibition on the sale of investment products to retail clients that reference cryptoassets, which is due to close on 3 October 2019.
You can read the FCA feedback and final guidance here.