Well almost. After much murmuring and delay, the European Union (EU) has recently announced the Markets in Crypto-assets (MiCA) framework, which is set to have a major impact on the regulation of cryptocurrency in the United Kingdom (UK). The MiCA framework is a comprehensive set of rules and regulations that will govern the trading and issuance of crypto-assets within the EU.
The MiCA framework is designed to provide clarity and certainty to the crypto-asset market, as well as to protect investors and consumers. The framework will require crypto-asset issuers to register with the relevant national regulator, and to comply with a range of requirements, including the provision of information to investors and the implementation of appropriate measures to prevent money laundering and terrorist financing.
The MiCA framework is expected to have a significant impact on the UK’s regulation of cryptocurrency. The UK has traditionally taken a more relaxed approach to the regulation of crypto-assets, but the MiCA framework is likely to bring the UK’s regulation into line with the rest of the EU.
The MiCA framework is also likely to have a positive impact on the UK’s crypto-asset market. The framework will provide greater clarity and certainty to the market, which should encourage more investors to enter the market. This, in turn, should lead to increased liquidity and more opportunities for investors.
Overall, the MiCA framework is set to have a major impact on the regulation of cryptocurrency in the UK. The framework will provide greater clarity and certainty to the market, as well as increased protection for investors and consumers. This should lead to increased liquidity and more opportunities for investors, which should benefit the UK’s crypto-asset market.
As Sarah Pritchard, Executive Director of Markets, and Executive Director of International at the Financial Conduct Authority (FCA) said in her speech on 25th April, “Regulation may be able to mitigate some of the harm, but it will not be able to stop all risk in relation to crypto – in particular risk of financial loss. Consumers who buy crypto must be prepared to lose all their money.” She added, “We expect crypto promotions to be treated on a par with other high-risk investments and failure to comply will be a criminal offence.”
If you have any queries about Compliance impacts on the Crypto trading and promotion space,
please contact us.
Related:
Need some promotional advice? If you want to understand more about how to make sure your marketing materials meet FCA standards, please click here.
About us
The Compliance workload shows no signs of decreasing. An ever-growing list of requirements and regulatory changes makes the compliance role harder than ever.
When you face business or regulatory challenges, we provide solutions that are tailor-made to your needs with a view to releasing your energies to focus on your clients.
LS Consultancy offer a complete solution with a range of cost effective, regulatory compliance and marketing products and solutions including copy advice and copy development which are uniquely suited to supporting firms.
Why Not Download our FREE Brochures! Click here.
Call us today on 020 8087 2377 or email.
Need A Regulatory Marketing Compliance Consultant? A Bit More About Us
We welcome individual bloggers / Professional Writers / Freelancers to submit high quality contents. Find out more…
Contact us
FOLLOW US
Connect with us via social media and drop us a message from there. We’d love to hear from you and discuss how we can help.
Facebook Instagram LinkedIn Twitter YouTube
Contact us