Commenting on the FCA’s consultation paper on cryptoassets guidance
Commenting on the FCA’s consultation paper on cryptoassets guidance, issued today, Anton Ruddenklau, Head of Digital and Innovation, Financial Services, KPMG comments:
“The FCA is working hard to maintain its reputation as a global leader for fintech regulation, today’s consultation is yet another example.
“There’s been equal amounts of hype and scepticism about cryptoassets - 2018’s pricing swings made sure it never slipped out of our attention. But, crypto is here to stay; the biggest players in financial services are already building infrastructure to support it. The regulator knows that, and is responding accordingly by making sure all players understand, and operate within, the existing regulatory framework. However, perhaps most importantly, this consultation is an opportunity for the FCA to really understand what firms are doing, and how regulation might need to evolve to ensure crypto products are used to help support UK GDP in a responsible, sustainable way.”
See the FCA paper here.
See KPMG’s latest report on the institutionalisation of cryptoassets here.
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