UK Regulator to Consider Terra Coins’ Collapse in New Crypto Rules: Report
Market instability in stablecoins will need to be taken into account, the FCA's executive director for markets said.
Market instability in stablecoins will need to be taken into account, the FCA's executive director for markets said.
The U.K. regulator will meet crypto experts to discuss how to handle disclosing information related to issuance of crypto assets, regulatory obligations and custody regulations.
The financial regulator tended to key in on the risks crypto present for financial stability, said the co-director of consumer and retail policy.
The exchange is hiring Seth Levy, who spent 16 years at U.S. regulator FINRA, and Steven McWhirter from the U.K.'s Financial Conduct Authority.
The U.K. has been accelerating its efforts to regulate digital assets in recent weeks as the government seeks to establish the country as a crypto hub.
A new regulatory package for crypto could clear up some gray areas for digital asset companies around which regulations they should comply with.
CEX.I0, Copper Technologies, GlobalBlock, Revolut and Moneybrain remain on the temporary registration list.
The extra staff will help the U.K. regulator strengthen its efforts to clamp down on companies that fail to meet standards.
The government is set to reveal its regulatory package for crypto in the coming weeks.
Firms that fail to receive FCA approval might choose to service the U.K. from abroad or challenge the ruling in court.