TechFlow news, December 16 — According to CoinDesk, on Monday the UK Financial Conduct Authority (FCA) stated in a document regarding its forthcoming cryptocurrency regime that the UK intends to ban public offerings of cryptocurrencies.
Built upon existing promotion rules that prevent unregistered crypto firms from accessing UK customers, the UK will introduce legislation to prohibit public crypto offerings. Only crypto asset trading platforms and offers meeting exemption criteria may be exempt from this restriction.
The document seeks industry feedback on market access, disclosure requirements, and market abuse frameworks, forming part of a series of upcoming publications as the regulator prepares its comprehensive cryptocurrency regime.
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