Laura WilesThe FOS has published a response to the FCA’s consultation on applying Handbook rules to cryptoasset firms. Overall, the FOS agreed with the benefits of extending access to its complaints resolution framework to crypto consumers.
In terms of regulatory alignment, the FOS notes that if its compulsory jurisdiction is expanded to provide protection for crypto users, it will be important for both customers and firms to have as much clarity as possible from the FCA on regulatory expectations. FOS highlighted that a number of proposed reforms in its consultation on modernising the redress scheme could provide possible avenues for that clarity to be provided.