CoinVoice has learned that, according to CoinDesk, the UK's Financial Conduct Authority (FCA) released a document on Monday revealing plans to ban public offerings of cryptocurrencies. The government will prohibit unregistered cryptocurrency companies from engaging with UK customers through new legislation, unless they meet the exemption criteria for trading platforms or products.
The document also seeks industry feedback on market access, information disclosure, and market abuse regulation, as part of the preparation for developing a comprehensive cryptocurrency regulatory framework. The FCA has been closely monitoring the crypto industry since 2020 and assessing its anti-money laundering compliance. A new regulatory draft is expected to be released next year, with plans for implementation by 2026.
The FCA aims to ensure that consumers can access sufficient information to make informed decisions by collecting industry feedback, and to reduce fraudulent activities through market abuse regulation. [Original link]