The UK licensing regime refers to the set of legal and regulatory requirements imposed by authorities in the United Kingdom for businesses operating within specific regulated sectors. For digital assets, this framework dictates the conditions under which cryptoasset firms can offer services, including registration, operational standards, and compliance obligations. It aims to ensure market integrity, protect consumers, and combat financial crime within the UK jurisdiction. Adherence is mandatory for regulated activities.
Context
The UK licensing regime for cryptoasset businesses is a significant area of development, with the Financial Conduct Authority implementing various registration and authorization requirements. A key debate concerns the scope of assets and activities covered by the regime, particularly distinguishing between regulated financial instruments and unregulated cryptoassets. Future changes are expected to align with broader international standards while tailoring rules to the specific risks and opportunities in the UK market.
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