Definition ∞ FSMA 2023 refers to the Financial Services and Markets Act 2023, a significant piece of UK legislation. This Act provides a new framework for financial regulation following the UK’s departure from the European Union. It aims to tailor financial rules to the specific needs of the UK economy. The legislation includes provisions for regulating digital assets and stablecoins.
Context ∞ FSMA 2023 is a central topic in UK financial news, particularly concerning its implications for the cryptocurrency industry. A key discussion involves how the Act positions digital assets within the existing regulatory perimeter, aiming for market integrity and consumer protection. Observing the secondary legislation and consultations that will detail its implementation provides crucial context for understanding market changes.
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