FCA consults on crypto rules
“The standards, if adopted, would help reduce some of the risks prevalent in the business practices in this sector. However, they do not address the underlying and inherent risks posed by crypto assets,” the paper said.
As part of the consultation, the FCA is also seeking feedback on potential investor protections for the crypto sector, such as how its “consumer duty” — which requires financial firms to deliver “good outcomes” for their clients — should apply.
It is also consulting on complaint-handling standards for the sector, and whether protections provided by the Financial Ombudsman Service should apply to complaints involving crypto firms.
“We want to ensure that consumers of crypto asset firms get…
