Insights / News
Insights / News
In her article, Bianca also considers the Financial Conduct Authority’s approach to territoriality, the application of the FSMA Financial Promotions Order (SI 2005/1529) and the regulatory approach taken by the United States.
There have been calls for there to be more regulation of cryptoassets due to their price volatility and soaring popularity. For instance, Bitcoin in April 2011 was valued at £0.71 (USD$ 1) but on 26 May 2021 at £27,352 (USD$ 38,694.14). There is also a risk that criminals and terrorists may exploit cryptoassets. However, it is important not to stifle an innovative and international industry with too much regulation. The FCA has sought to adopt a balanced approach to regulation by bringing only certain cryptoassets within its perimeter whilst others may be subject to the MLRs or else not regulated.
The article can be read online here.
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Bianca accepts instructions in all areas of Chambers’ practice including commercial litigation, probate, employment & discrimination, financial services, personal injury, inquests and international related matters. She has a particular interest in international arbitration. To find out more, contact Matt Sale on +44 (0)20 7427 4910 or Peter Foad on +44 (0)20 7427 0807 for a confidential discussion.
Legal Blogs 22 Jun, 2021