FCA To Authorize Crypto Firms, Ban Some Trading Activity

Law360, London (January 23, 2019, 1:28 PM GMT) -- The Financial Conduct Authority outlined proposals on Wednesday to force financial services companies that offer cryptoassets to consumers to gain authorization from the watchdog or face criminal action, as it seeks to protect investors in products such as bitcoin.

The City regulator said it will also push for a ban on the sale of derivatives linked to digital assets.

The FCA has set out which cryptoasset activities it plans to supervise so that it can tell companies whether they should seek permission to operate. If they fall within the watchdog's proposed regulatory perimeter they will have to comply with rules designed to protect...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!