Crypto firms operating in UK to be subject to sweeping new rules

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The UK Financial Conduct Authority will impose new regulations on crypto firms requiring them to prove resilience to market shocks and hold sufficient capital against risky assets. These measures aim to increase oversight of the rapidly growing crypto industry starting October next year.

City regulator will require booming industry to prove its resilience to risk from October next year Crypto firms operating in the UK will be forced to prove they can weather market shocks and hold capital against risky assets as part of sweeping new rules announced by the Financial Conduct Authority (FCA). The regulations will increase supervision of the crypto industry, which has so far has faced minimal oversight despite a boom in popularity linked to social media influencers and a legitimisation drive under the US president, Donald Trump. Continue reading...