On 20th July 2020, Her Majesty's Treasury (HMT) published two consultations focused on the promotion of cryptoassets. The consultations were entitled 'Cryptoasset Promotions' and 'Regulatory Framework for Approval of Cryptoasset Promotions'. Each consultation was published with the goal of getting stakeholders views on some of the key questions currently arising with regards to cryptoasset promotions. The consultations were looking specifically for views on:
-
A new government proposal to bring certain cryptoassets into the scope of financial promotions regulations
-
The governments proposal of a new regulatory gateway. A gateway which a firm must pass through before it is able to approve the financial promotions of unauthorised firms
Having monitored the regulatory space surrounding cryptoassets and cryptoasset activity for a number of years we felt obliged to submit our responses to the questions raised by these respective consultations. With the assistance of our dedicated cryptoasset team and vast experience as one of the UK's leading providers of regulatory compliance services, we have compiled a response document which was submitted to HMT on 22nd October 2020. To download a full copy of our response document click the link below.
Related resources
All resources
Bitesize webinar: FCA compliance for investment managers: getting the basics right
The Crucial Role of SARs in Combating Financial Crime
Under the microscope: General Insurance and pure protection governance.
Annex I Gap Analysis