FCA Consultation Paper 26/4 Sets Out How Crypto Firms Will Be Governed Under the FCA Handbook
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The FCA Consultation Paper 26/4 applies Consumer Duty and conduct rules to regulated crypto services, requiring compliance from crypto firms. FCA governance will enforce tighter requirements for UK crypto firms, but they will not have FSCS coverage. This is part of the UK's evolving cryptoasset regulatory framework.
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- FCA Consultation Paper 26/4 applies the Consumer Duty and conduct rules to most regulated crypto services.
- Crypto firms will fall under FCA complaint rules and the Financial Ombudsman, but not FSCS coverage.
- The FCA plans tighter governance, safeguarding, and UK entity requirements for crypto firms.
The UK Financial Conduct Authority has published FCA Consultation Paper 26/4, providing further detail on how its existing regulatory framework will apply to newly regulated cryptoasset activities. The consultation forms part of the UK’s developing cryptoasset regime and focuses on how key sections of the FCA Handbook will be adapted for crypto firms operating in or targeting the UK market.
Under FCA Consultation Paper 26/4, the regulator proposes applying the Consumer Duty to crypto firms in the same way it applies to other FSMA-authorised firms. The duty will cover …
Read The Full Article FCA Consultation Paper 26/4 Sets Out How Crypto Firms Will Be Governed Under the FCA Handbook On Coin Edition.
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