2024

Bitcoin

<h4 data-block-id="17d19abb-b241-438a-acb4-257ab95c0599"><strong>Regulators around the world are taking steps to address crypto market abuses. The UK, for example, has several policies to protect its citizens from abuse.</strong></h4> 
<p data-block-id="06911eb5-f85d-44c8-a252-3cc54ecf9f3d">The most recent involves the <a href="https://www.fca.org.uk/" target="_blank" rel="noopener">UK’s Financial Conduct Authority (FCA)</a>. The FCA recently turned its focus to improving its capacity to investigate. And prosecute market abuses within the crypto space.</p> 
<h5 data-block-id="06911eb5-f85d-44c8-a252-3cc54ecf9f3d"><strong>UK’s FCA Enhances Focus on Crypto Market Abuse Prosecution</strong></h5> 
<p data-block-id="97554b0a-c27a-4742-a977-1434f0a42504">While the industry has made huge progress lately, there have also been cases of foul play. The FCA’s approach focuses on strengthening its surveillance operations, and deploying advanced analytics tools. This includes network evaluation and cross-asset class visualizations.</p> 
<p data-block-id="97554b0a-c27a-4742-a977-1434f0a42504"><img decoding="async" class="alignnone size-full wp-image-136553" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans.jpg" alt="" width="933" height="699" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans.jpg 933w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans-300x225.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans-768x575.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans-561x420.jpg 561w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans-80x60.jpg 80w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans-696x521.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/FCA-crypto-plans-265x198.jpg 265w" sizes="(max-width: 933px) 100vw, 933px"></p> 
<h6 style="text-align: center;" data-block-id="97554b0a-c27a-4742-a977-1434f0a42504"><strong>Source: <a href="https://www.fca.org.uk/publications/business-plans/2024-25" target="_blank" rel="noopener">FCA</a></strong></h6> 
<p data-block-id="df90a566-b488-45f8-8963-b60a2fe994a4">Also, the FCA is creating a framework for market abuse within crypto. Some believe these frameworks could be burdensome for crypto companies in the UK. However, the regulator explained that the framework would encourage innovation. And lower industry costs.</p> 
<p data-block-id="f2a29010-2165-4977-b6f3-ab031576d7d2">The FCA <a href="https://www.fca.org.uk/publications/business-plans/2024-25" target="_blank" rel="noopener">wrote</a> of its plans, “We will assist in delivering a proportionate market abuse regime for Crypto Assets and the PISCES [Private intermittent Share and Capital Exchange Service] facility.”</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">This move by the FCA is a significant step towards regulating the crypto space in the UK and ensuring investor protection. Its crucial for the markets integrity and growth.</p> 
 <p>— Muhmmad Azhar (@AzharTheGreat) <a href="https://twitter.com/AzharTheGreat/status/1770354112586031571?ref_src=twsrc%5Etfw">March 20, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h5 data-block-id="14c638be-e9bf-4177-a2ef-368debd89adc"><strong>FCA to Track Crypto Ads</strong></h5> 
<p data-block-id="8611ad20-b320-4796-9424-1dcacd730077">The FCA plans to continue its close supervision of the financial ads pushed out by crypto companies. Recall that the UK watchdog published new rules to guide crypto marketing in the UK. The regulator will improve its technological capacity to identify promotional content that could endanger investors.</p> 
<p data-block-id="cbd1236a-3eff-40ac-a57c-64857f93a998">Most countries consider cryptocurrencies to be <a href="https://www.altcoinbuzz.io/cryptocurrency-news/solana-co-founder-warns-against-pre-sale-investments/" target="_blank" rel="noopener">high-risk investments</a>. The FCA’s crypto ad guidelines were part of its move to protect investors. But, the regulator claims that most crypto companies violate its ad policies.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Government Cracks Down On Crypto Ads, Puts FCA In Charge: The government is to introduce rules on cryptocurrency advertising to prevent people from being misled into investing, it was announced today. </p> 
 <p>Around 2.3 million Britons now hold cryptoassets… <a href="https://t.co/Yl4Iiczq0M">https://t.co/Yl4Iiczq0M</a></p> 
 <p>— Lisp (@LispNFT) <a href="https://twitter.com/LispNFT/status/1483677989153894403?ref_src=twsrc%5Etfw">January 19, 2022</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p data-block-id="9a539e53-171e-43bd-8abd-f0b52a31803d">The FCA said it had issued 450 alerts for fraudulent crypto marketing in 2023 alone. It pledged to take legal action against businesses that violate the regulations. And plans to enforce its policies against poor marketing campaigns throughout 2024.</p> 
<p data-block-id="96a43c0b-43ed-4856-a958-5527832705f5">The FCA serves as the main regulator of cryptocurrencies in the UK. Some of its policies demand cooling-off periods for new crypto investors. The regulator is also seeking to create a stablecoin regulatory framework. The FCA’s regulatory regime will apply to anybody using UK-based crypto exchanges. This is regardless of their location.</p> 
<p data-block-id="96a43c0b-43ed-4856-a958-5527832705f5"><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
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<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/uks-fca-to-improve-surveillance-of-the-crypto-market/">UK’s FCA to Improve Surveillance of the Crypto Market</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

UK’s FCA to Improve Surveillance of the Crypto Market

Altcoin Buzz

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