According to BlockBeats, the UK Financial Conduct Authority (FCA) announced plans to prohibit public cryptocurrency offerings in a document released on Monday. This new legislation aims to build upon existing regulations that prevent unregistered crypto companies from promoting their services to UK customers. Only crypto asset trading platforms and related issuances that meet exemption criteria will be unaffected by this restriction.
The document further elaborates that the policy is still open for industry feedback, particularly concerning market access, information disclosure, and market abuse. This initiative is part of a series of documents issued by the regulatory body as it prepares to establish a comprehensive cryptocurrency regulatory framework.