Europe: Pressure Grows on UK Regulated Firms to Manage Cryptoasset-Related Risk
By: Kai Zhang
On 24 March 2022, the FCA issued a notice reminding firms with cryptoassets exposures of its expectations on certain risks. The key themes are:
- Avoiding consumer confusion: As cryptoassets are generally not regulated, the FCA expects firms involved in cryptoassets to ensure that consumers understand the distinction between their regulated business and unregulated business (i.e. relating to cryptoassets).