Crypto assets blog

9 April 2019

FCA’s Guidance on Cryptoassets – welcome clarity

Cryptoassets have attracted significant and growing attention from consumers, markets, governments and regulators globally”, stated the FCA earlier this year in launching its consultation on its Guidance on Cryptoassests.  Jill Lorimer has previously commented on the Cryptoassests guidance.

The aim of the Guidance is to “provide regulatory clarity for market participants carrying on activities in this space” and it appears to do just that.

Anna Holmes

17 January 2019

FCA sharpens focus on crypto cowboys

The recent confirmation by the UK Financial Conduct Authority (FCA) that it is investigating 18 firms involved in the sale of crypto assets, such as Bitcoin, indicates a ramping up of regulatory focus on the controversial sector.

Jill Lorimer

27 July 2018

Cryptocurrencies: the new face of economic crime?

The Treasury Committee’s inquiry into economic crime is one of the most wide-ranging of the committee’s current workstreams, and its conclusions are keenly awaited.

As well as assessing the effectiveness of the anti-money laundering regime in the UK, MPs have been examining the impact of economic crime on consumers.

Jill Lorimer

24 July 2018

New police training indicates authorities believe cryptocurrency is here to stay

Earlier this month, the Lord Chancellor David Gauke confirmed that a new 18 courtroom legal centre is to be built on the site of Fleetbank House in London which will focus on issues such as economic crime (including fraud) and cyber crime.  Due to be established in 2025, this “state-of-the-art court” is to give the message to the world that Britain “stands ready to deal with the changing nature of 21st century crime”.

Anna Holmes

28 June 2018

FCA Dear CEO letter on cryptoassets – a warning to firms

On 11 June, the UK Financial Conduct Authority (FCA) issued a “Dear CEO” letter on how banks should deal with the financial crime risks associated with “cryptoassets”. The FCA defines cryptoassets as publicly available mediums of exchange that feature a distributed ledger and decentralised system for exchanging value, such as Bitcoin and Ether. These assets are more commonly known as cryptocurrencies.

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