UK FCA’s Final Guidance On Crypto Assets: What It Means For You

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UK FCA’s Final Guidance On Crypto Assets: What It Means For You
mohamed_hassan / Pixabay

As you may know, today the UK Financial Conduct Authority published its final guidance on crypto assets, defining what tokens come under its jurisdiction, classifying what it considers the 3 main types of tokens: Security, E-Money and Unregulated tokens.

In response to the report, a number of experts in the space have provided their insights, which can be seen below.

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Aries Wang, CEO, and Co-Founder of Bibox, the AI-enhanced, encrypted digital asset exchange, said,

“In an ideal scenario, all firms dealing with crypto assets should be enforcing a degree of self-regulation, however, a defined regulatory perimeter for those involved with the issuance, creation or trading of crypto assets will help to keep the industry in line. The FCA is by no means driving regulatory change but as an influential force in the European market, we foresee the typology and guidance being rolled out as an industry standard.

The paper critiques a supposed inherent intention to remove token holder rights in the case of what the FCA categorizes as “exchange tokens”, the umbrella term for crypt