UK Crypto Proposals: a short series reflecting on the implications
Following the launch of the UK’s most recent consultation on crypto regulation, this week we are releasing a short series of blog posts considering the implications. During this series, we will look at the Treasury’s change of tack in relation to financial promotions; next steps for crypto businesses seeking to access the UK market; and how the UK proposals compare with the EU’s MiCAR regime.
It's like buses
As the saying goes, nothing comes along for ages, and then they all come at once. So it has been with UK legal and regulatory developments for digital assets. After a relatively quiet 2022, this month we have already seen the Treasury launch its far-reaching consultation on the future of cryptoassets regulation as well as the Bank of England’s consultation on a UK central bank digital currency. We are also expecting the release of a legal statement on the legal validity of digital securities under English law from the UK Jurisdiction Taskforce.
This week we will be launching a series of posts under the banner “UK Crypto Proposals”. These posts will cover:
- The Treasury’s change in tack on financial promotions
- UK Crypto Proposals next steps for firms
- Comparison with the EU’s Markets in Cryptoassets Regulation
For our initial summary of the Treasury’s proposals, click here.
Watch out also for upcoming posts on the Bank of England’s digital pound consultation and digital securities under English law.