Legal News

FMLC responds to HMT proposal to regulate cryptoasset promotions

Published on: 27 October 2020
Published by LNB News

LNB News 27/10/2020

Document Information

Issue Date: 27 October 2020

Published Date: 27 October 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Financial Markets Law Committee (FMLC) has set out its response to HM Treasury’s consultation on its proposal to bring certain cryptoassets into the scope of financial promotions regulation. The FMLC’s response expresses concern with regards to the definition of a ‘qualifying cryptoasset’ set out in the proposal. The FMLC also encourages HMT to take note of the proliferation of sometimes conflicting or overlapping definitions internationally of cryptoassets for the purposes of regulation.

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