FSMA Expansion refers to the broadening of the Financial Services and Markets Act’s scope to encompass new areas, particularly within the digital asset landscape. This legislative extension grants regulatory authorities greater power to oversee and regulate novel financial products and services. The aim is to extend consumer protection and market stability to emerging sectors. Such an expansion clarifies the legal standing of digital asset activities.
Context
The FSMA Expansion is a central topic in UK financial regulation, as authorities seek to integrate digital assets into existing legal frameworks. Discussions currently center on which specific crypto activities will fall under the expanded regulatory purview and the extent of new powers granted to bodies like the Financial Conduct Authority. A critical future development will be the implementation of secondary legislation that provides granular detail on these new regulatory obligations.
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