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UK regulator to tighten measures against crypto market abuse

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The FCA also said it will continue supervising crypto promotions and increasing its capabilities to detect illegal crypto ads.

The U.K.'s Financial Conduct Authority will focus on increasing its capabilities in detecting and pursuing market abuse in the crypto sector and assisting in delivering a proportionate market abuse regime for the asset class in the next 12 months.tightening its measures against crypto market abuse as one of its goals. The regulator will improve monitoring and intervention systems to cover market abuse and integrity.

Apart from improving its market monitoring ability, the financial regulator also said that it will work on a market abuse regime for crypto. The FCA wrote: While adding regimes for the crypto space may seem like an additional headache for crypto companies based in the country, the FCA said that it will develop the framework to “support innovation to lower industry costs.”

 

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UK Regulator FCA Plans to Deliver a Market Abuse Regime for Crypto This YearCamomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
Source: CoinDesk - 🏆 291. / 63 Read more »