UK’s Cryptoasset Task Force to Release Joint Review on Cryptocurrencies This YearThe United Kingdom’s newly-established ‘Cryptoassets Task Force’ will publish a joint cryptocurrency review later this year.
In Revealing its business plan for the 2018/2019 financial year, the United Kingdom’s Financial Conduct Authority (FCA) outlined its policy thinking on cryptocurrencies adding that it would publish a review with the Treasury of the UK and the Bank of England (BoE).
The FCA noted that while cryptocurrency does not fall under its regulatory perimeter, some of the ways of which the assets are used bring them within their scrutiny, thereby “making the landscape complex”.
The FCA detailed in the report how they plan to approach the speed with which fintech innovation is driving change in markets:
“Our approach is to sustain a regulatory environment where consumers and firms can maximise the opportunities of competition, innovation and big data while reducing or mitigating the associated harms.”
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