The FSMA Perimeter refers to the legal scope of activities and entities regulated by the Financial Services and Markets Act in the United Kingdom. This legislative framework determines which financial services and products, including certain digital assets, fall under the oversight of UK financial regulators. Understanding this perimeter is crucial for compliance within the rapidly evolving digital asset sector. It defines regulatory boundaries.
Context
The application of the FSMA perimeter to novel digital assets and crypto businesses is a constant point of discussion and regulatory updates in the UK. News often covers consultations, guidance, and enforcement actions related to whether specific tokens or services constitute regulated activities. This regulatory boundary significantly influences how crypto firms operate and offer services in the UK market.
The UK's new Draft Order mandates full FSMA compliance, compelling CASPs to immediately align operational and capital structures with traditional finance standards.
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