Merkle Science RegWatch: The UK’s Crypto Regulation Roadmap – An Insider’s Guide To Current & Future Legislation
Our industry is witnessing a tectonic shift in its regulatory landscape. In the last 12 months the UK has seen: – 4 public consultations directed specifically at the cryptoasset industry with a handful of others crossing into the sector. – Crypto businesses brought firmly into the regulatory perimeter through inclusion in the scope of the FCA’s Money Laundering Regulations. – The European Commission published a draft regulation on Markets in Cryptoassets (MiCA). – A ban on the sale of crypto derivatives. – HMT launch a public consultation into the UK’s regulatory approach to cryptoassets and stablecoins. – HMT’s Kalifa Review of UK FinTech calls for a bespoke regulatory regime for cryptoassets. – Uncertainty over the implementation of FATF’s Travel Rule
From the outside, the UK appears to be preparing to lead the global financial sector once again, this time with carefully crafted policy to encourage digital assets and cryptocurrency adoption and innovation while keeping consumer protection at the center of its legislative agenda. However, the reality on the ground is more nuanced and difficult to navigate. Join our panel of industry leaders to discuss current and future crypto regulation, how to address the challenges of crypto crime, and overcome the complexities of compliance.