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FCA finalises guidance on types of cryptoassets it will regulate

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.

  • Shared by KYC360
  • August 02, 2019
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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.

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