The FCA hosted its first policy-focused CryptoSprint events in May and June 2022. The objective of the events was to seek industry views around the current market and the design of an appropriate regulatory regime following the Government’s recent announcement that they will consult later this year on further regulating cryptoassets beyond the Money Laundering Regulations.
The main aim of the event was to seek views from the industry on what an appropriate regulatory regime might look like to ensure consumers and markets have sufficient protection as the industry evolves.
The CryptoSprint events have provided valuable information and the FCA has set up workstreams to further understand what future crypto standards and requirements may mean for other areas, like:
- environmental social and governance (ESG) considerations
- market conduct
- operational resilience
- and insolvency.
The FCA will continue engaging with industry experts to understand the areas of concern and develop their policy thinking.