Summary
- The UK Financial Conduct Authority (FCA) plans to prohibit unregistered virtual asset companies from selling to UK customers.
- The regulation is expected to take effect next year, with new regulations planned for 2026.
- The FCA stated it will gather industry feedback regarding market abuse.
The UK Financial Conduct Authority (FCA) plans to prohibit the sale or offering of virtual assets (cryptocurrencies) to the public.
According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), the UK FCA announced that it intends to ban unregistered virtual asset companies from approaching UK customers to sell or offer virtual assets. The FCA plans to implement a draft regulation on virtual assets next year and introduce new regulations in 2026. The FCA has not specified which companies the regulation will apply to.
The media added, "The FCA will gather feedback from the industry regarding market abuse and other issues."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
