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Checklist for a successful crypto-provider registration application07 March 2023
Any business that intends to operate in the UK as a cryptoasset exchange provider or custodian wallet provider is required to register, but many are at risk of falling short at the first hurdle: the application for registration.
CBDC - the future of payments and money in the UK?09 February 2023
Back in April 2022 I wrote an article about the future of cryptoassets, payments and money in the UK. At that time, the UK government announced that it intended to bring in a regulatory regime for stablecoins used as a means of payment.
Finalisation of prudential treatment of cryptoasset exposures for banks: how will this impact the market?22 December 2022
Banks will benefit from greater clarity and certainty now that the Basel Committee on Banking Supervision (“BCBS”) has finalised its prudential standard on the treatment of banks’ exposures to cryptoassets.
The evolving UK financial promotion regime: can you keep up?22 December 2022
The UK financial promotion regime is going through a series of complex and interconnected changes that are being legislated for and implemented in a somewhat piecemeal manner, meaning that it is not straightforward for firms to keep abreast of all the changes or to see the bigger picture.
From crypto winter to crypto trading platform collapse – paving the path to greater regulation of crypto12 December 2022
The trajectory of the crypto sector has been marked by a number of events over the course of this year from the crypto-winter (including instability in crypto markets, the collapse of Terra (an algorithmically-backed stablecoin supplemented by a reserve of Bitcoin) and consequential failures of crypto-related firms) through to the collapse of the centralised crypto trading platform FTX and most of its associated businesses. The regulatory message from Sir John Cunliffe has been consistent throughout: we need effective regulation of crypto technologies in finance.
Latest proposals from the FSB on regulating cryptoasset activities and stablecoins21 November 2022
Cryptoassets are volatile by nature; while high risk may lead to high reward, there is also the very real prospect of such assets losing all value.
Failure to meet the required standards for FCA authorisation03 November 2022
A recent case serves as a useful reminder to firms seeking FCA authorisation of the paramount importance of positive and timely engagement with the FCA.
Appointed Representatives: The enhanced regime following lessons from Greensill Capital06 October 2022
Following publication of the Treasury Select Committee’s report in 2021 on Lessons from Greensill Capital, the TSC made a series of recommendations for the FCA and HM Treasury to consider. These included reforms to the Appointed Representatives regime that was first introduced in 1986, with a view to limiting the scope of the regime and accordingly reducing opportunities for misuse.
The FCA New Consumer Duty: Principle 12 is here19 August 2022
The Consumer Duty sets the standard of care that firms should provide to customers in retail financial markets.
“New technology does not change old risks” – why the crypto industry needs a regulatory framework to realise its full potential22 July 2022
Sir Jon Cunliffe, BoE Deputy Governor, Financial Stability, commented in a recent speech  on the latest developments in the crypto market and his conclusions from the so-called “crypto-winter”.