FCA finalises guidance on types of cryptoassets it will regulate
The United Kingdom’s Financial Conduct Authority (FCA) finalised a policy statement Wednesday on the kinds of crypto-related products that fall under its regulatory remit.
The final guidance, which does not address pending anti-money laundering (AML) obligations for crypto-related firms, clarifies that the FCA has supervisory authority over security tokens, which function similarly to specified investments, and certain utility tokens that serve as e-money. Cryptocurrency exchanges, however, fall outside of the agency’s purview, according to the guidance.
Read more at KYC360.