Regulatory technical standards are detailed rules and specifications developed by regulatory bodies to implement broader legislative frameworks, such as those governing digital assets. These standards provide precise requirements for market participants concerning areas like data reporting, security protocols, and operational procedures. They are essential for ensuring consistent application of regulations across a jurisdiction.
Context
The ongoing development and refinement of regulatory technical standards for digital assets are a primary focus for policymakers and industry participants alike. News coverage often reports on consultations for new standards, the interpretations of existing rules by supervisory authorities, and the challenges faced by crypto-asset service providers in aligning their operations with these detailed technical mandates, particularly concerning investor protection and market integrity.
The UK's integration of core crypto activities into the FSMA framework mandates a fundamental overhaul of CASP compliance and operational resilience systems.
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