UK financial regulator will not control bitcoins and ether

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The UK Financial Conduct Authority says digital currencies such as bitcoin and ether are outside its purview.

The FCA has released an updated version of the cryptocurrency guide, which explains its policy regarding the new asset class. In the document, bitcoin, ether and other similar digital currencies are equated to decentralized exchange tokens, so the department emphasizes that they are outside the scope of his activities and are outside his competence.

UK financial regulator will not control bitcoins and ether

However, the FCA will regulate security tokens to some extent, since it views them as digital assets with special functions that provide the same rights and obligations as stocks or debt instruments..

Supervised also there will be utility tokens that allow you to access certain services or services, but only those that play the role of electronic money.

UK financial regulator will not control bitcoins and ether

Stablecoins are subject to both of these conditions, so some of them will be governed by.

UK Bans Crypto Derivatives – British Cryptocurrency Investor Responds

While the UK is methodically forming its new asset class policy, the government India plans to impose tight control over the market and even offers jail for 10 years for using cryptocurrencies.

text: Ivan Malichenko, photo: Telegraph

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