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Gate Square New & Returning Creator Rewards are ongoing!
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The UK FCA plans to exempt some encryption companies from TradFi regulations.
According to news from Hashi Chain, the UK's Financial Conduct Authority (FCA) plans to include cryptocurrency asset companies in a comprehensive regulatory framework starting next year, but some TradFi rules will be exempted. The FCA stated that directly applying existing financial regulations is difficult to adapt to the characteristics of the encryption industry and will adjust regulatory measures based on risk. Cryptocurrency platforms will not be subject to core principles such as "honest operation" and "customer interests first," and there will be no requirement to provide customers with a cooling-off period or right of cancellation. At the same time, the FCA plans to strengthen the management of operational risks such as cyber attacks and solicit opinions on whether to include consumer protection obligations.
#FCA Cryptocurrency #Blockchain Regulation #FinancialConductAuthority