BlockBeats reported on December 16 that according to CoinDesk, the UK Financial Conduct Authority (FCA) stated in a document released on Monday on the upcoming cryptocurrency regulatory framework that the UK plans to ban the public issuance of cryptocurrencies.
The new legislation will ban the public offering of cryptocurrencies, a move that will build on existing UK rules that prohibit unregistered crypto firms from promoting to UK customers. Only crypto asset trading platforms and related offerings that meet exemptions may be exempt from this restriction.
The document goes on to state that the policy is still seeking industry opinions, especially on market access, information disclosure, and market abuse. This is one of several documents released by regulators to prepare a regulatory framework for cryptocurrencies.