UK Financial Watchdog Plans Oversight of Security Tokens, Some Stablecoins

The U.K.’s Financial Conduct Authority (FCA) has set out proposed guidance for how crypto assets should be regulated in the country.

In a consultation paper published Wednesday, the watchdog assigns the various crypto tokens into three categories and suggests whether these can be accommodated under existing rules overseen by the FCA – for example, as specified investments, financial instruments or e-money.

Explaining the reasons for guidelines, the agency said that crypto assets carry risks for consumers and investors, and clarification of what is regulated and what is not would help firms wishing to operate compliant businesses based around crypto assets.

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