The U.K. has set itself a path to regulate crypto from the end of next year that is different from the rest of Europe. While the European Union (EU) has created sector-specific rules for the industry under the Markets in Crypto Assets Regulation (MiCAR), the U.K. will instead make crypto firms subject to the same rules as every other financial services provider.
The Financial Conduct Authority (FCA), which will take responsibility for regulating cryptoasset activities such as issuing stablecoins and operating trading platforms, has recently consulted on the guidance it wants to release that will help firms understand their duties as they undergo more rigorous oversight.
