, was published on Wednesday. It proposes a new authorization regime for any company operating from the U.K. or serving local clients – and has gained an immediate, and largely positive, reaction from the industry.
“As the voice of the U.K.’s crypto sector we welcome this positive step towards greater regulatory clarity,” said Ian Taylor, board advisor of lobby group CryptoUK. “Given the provisions within the proposed legislation, consultation with the industry could not be more critical.”“Binance has vocally supported the need for effective and appropriate regulation to help with mainstream adoption of digital assets,” theThe U.K.
“Crypto firms already registered under the MLR regime and carrying out those activities would be required to also seek authorization under the new FSMA-based regime,” the document said – a comment likely to generate apprehension from those who already dealt with the FCA.
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