The Financial Conduct Authority has set out new landmark rules for crypto, setting out clearer standards for the buying, trying, and holding of crypotcurrencies.

All firms must meet financial resilience requirements including capital and stress testing. The FCA is also introducing new market integrity rules covering areas such as insider trading and market manipulation.

The new framework also sets out specific rules for stablecoins, a type of cryptoasset designed to maintain a stable value, typically by being linked 1:1 to a fiat currency such as the pound. Stablecoins will be subject to clear, strong and transparent standards, helping to build trust in how they are used over time.

Following…