FCA hosts crypto event to assess how digital assets can be regulated

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The Financial Conduct Authority (FCA) has launched a robust defence of its plans to ‘name and shame’ companies under investigation today after a fierce backlash against the proposed changes in recent weeks. 
Under proposals being considered, the City regulator plans to publicly name companies facing an enforcement investigation on a more regular basis and at an earlier stage. 

The UK’s Financial Conduct Authority (FCA) this week hosted a two-day ‘CryptoSprint’ event aimed at exploring how the evolving world of crypto assets could be regulated in the UK.

Around 100 participants from the crypto industry, financial services firms, academia, consumer groups and subject matter experts collaborated to discuss the development of future regulations on crypto assets.

“The last two days have been hugely positive, with participants collaborating closely on what future policy might look like,” said an FCA spokesman.

“It was striking that the general view on future regulation for the crypto market matches ours, with consumer protection and market integrity key to providing confidence in this evolving sector.”

As part of a three-year , the FCA says it wants to commit to preparing financial services for the future by tailoring its rules to better suit UK markets in a global context. The CryptoSprint event, it says, provided an opportunity to explore what the UK policy solutions may be for the sector.

Over the two days, the participants worked in mixed-discipline teams to explore some of the challenges facing the industry, including how the FCA can support and balance innovation with high standards that protect consumers and markets.