DeFi

Planet

<div class="intro-text"> 
 The UK’s Financial Conduct Authority (FCA) has announced plans to tighten restrictions on the crypto industry, including a proposed ban on public crypto offerings from non-regulated entities. 
</div> 
The announcement,<a href="https://www.fca.org.uk/news/statements/fca-seeks-feedback-plans-improve-transparency-uks-crypto-markets"> outlined</a> in a discussion paper published on December 16, is part of the FCA’s ongoing efforts to enhance oversight and build a safer crypto market. The proposed rules aim to extend existing restrictions on crypto promotions, which currently limit unsolicited communications targeting UK residents. Under the new framework, unregulated firms would be prohibited from making public crypto offers, though exceptions may apply for authorized trading platforms or entities operating under specific regulatory waivers. 
The measures also propose requiring firms to implement strong controls to prevent consumer harm and to share information to combat market abuse. These initiatives are designed to align the UK’s crypto sector with broader financial regulations. 
The FCA emphasized that the discussion paper is a key step toward establishing a comprehensive crypto regime and has opened consultations with industry stakeholders to gather feedback on critical issues, such as entry standards, disclosure obligations, and anti-market abuse measures. These consultations will continue until March 2025, with a finalized regulatory framework expected by 2026. 
This regulatory push comes<a style="color: #0000ff;" href="https://defi-planet.com/2024/11/uk-crypto-awareness-rises-to-93-as-average-holdings-increase-fca-report/"> amid increasing public engagement with crypto in the UK</a>. According to recent FCA data, public familiarity with crypto has risen slightly from 91% to 93%, while the average value of individual crypto holdings has grown from £1,595 to £1,842, reflecting the sector’s growing appeal among UK investors. 
Meanwhile, Val Smith, Head of Payments and Digital Assets at the FCA, has<a href="https://defi-planet.com/2024/10/fca-stands-firm-on-crypto-registration-rules-rejects-claims-of-hindering-innovation/"> defended</a> the regulator’s tough stance on crypto registration, addressing criticism that the requirements stifle innovation. Smith argued that rigorous standards are necessary to foster a sustainable and reliable digital asset industry, ensuring consumer protection while supporting the market’s long-term growth. 
&nbsp; 
If you want to read more news articles like this one, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community.</a> 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/12/uk-fca-proposes-ban-on-public-crypto-offers-by-unregulated-firms-in-new-oversight-push/">UK FCA Proposes Ban on Public Crypto Offers by Unregulated Firms in New Oversight Push</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

UK FCA Proposes Ban on Public Crypto Offers by Unregulated Firms in New Oversight Push

DeFi Planet

Other articles published on Dec 16, 2024

Ripple Drives XRP Coin Price Surge with Major Announcement

MicroStrategy Acquires Additional $1.5B Bitcoin, Expands Holdings to 402,100

Top Cryptos to Buy Today: Hedera, Tron, and Dreamcars

Best Cryptos to Invest in for Short Term – Qubetics Soars with dVPN Innovation While Monero and I...

Whales Pour Into XRP, ADA and 3 Under-the-Radar Coins – Are You Missing Out?

Cryptocurrency Breakthrough 2025: Uncover the Best Crypto Presales for Major Gains Next Year!

Join our free newsletter for daily crypto updates!