https://www.fca.org.uk/news/press-releases/fca-opens-gateway-regulated-cryptoFrom today, crypto firms can apply for authorisation from the FCA, marking a landmark moment as the UK takes a step closer towards becoming one of the most trusted places in the world to build and invest in cryptoasset businesses.
For the first time, crypto firms operating in the UK will be brought into full FCA regulation, with clear standards covering consumer protection, safeguarding, market integrity and financial resilience. This is a significant milestone, not just for the industry, but it signals to those who invest in crypto that the UK is serious in giving them protections they have never had before. It also gives the sector clarity and legitimacy that comes with a proper regulatory framework.
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To be fair, ignorant as I am, I thought that was already the case, but it looks like only now they are introducing a new crypto regime that will bring crypto businesses under full FCA regulation.
I'm trying to wrap my head around this and figure out what effect (if any) it could potentially have on Bitcoin and crypto in general.
Will it make ordinary people trust it more? I doubt it. The average person is unlikely to even be aware of those changes, as I don't think there was/is any notable press coverage.
