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UK financial watchdog asks the public how to regulate cryptocurrency


Bitcoin and other cryptocurrencies (cryptoassets) have caused regulators many headaches in recent years. In the latest twist in crypto’s regulation saga, the UK’s financial watchdog has launched a consultation on existing guidance around cryptoassets amid fears that companies could be putting consumers at risk by offering unauthorized services. The Financial Conduct Authority (FCA), the US equivalent to the Securities and Exchange Commission (SEC), launched its consultation after the UK Cryptoasset Taskforce requested additional guidance and clarity on the current regulatory framework. As there is uncertainty across jurisdictions, newbie blockchain startups are inevitably faced with legal quandaries – do I need…

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