The Financial Conduct Authority (FCA) recently hosted a two-day crypto event to explore how the evolving world of cryptoassets could be regulated in the UK.
According to the FCA, around 100 participants from the crypto space, financial services firms, academia, consumer groups and subject matter experts came together at the CryptoSprint and collaborated to inform the development of future regulations on cryptoassets.
As a part of a three-year strategy, the authority said it is committing to prepare financial services for the future by tailoring its rules to better suit UK markets in a global context.
Over the two-day event, the participants worked in mixed-discipline teams to explore some of the challenges facing the industry, including how the FCA can support and balance innovation with high standards that protect consumers and markets.
The FCA noted that this is the first time it has gathered views from industry and other stakeholders to help shape future policy. It also revealed that it will share the outputs of the CryptoSprint in the summer of 2022.
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