Stephen WilsonThis week, the Consumer Panel responded to the FCA’s consultation on Perimeter Guidance for the forthcoming cryptoasset regulatory regime.
The Panel has welcomed and broadly supports the proposed guidance, noting that it will help with consumer understanding of what is or is not regulated under the new regime, and narrow the scope for firms to make misleading claims about the services they provide.
In particular, the Panel was positive about the narrow approach proposed by the FCA to exclusions so that grey areas should be less exploited by firms to the detriment of consumers.
As we have already reported, the timeline to authorisation is clear – there is a window open between 30 September 2026 and 28 February 2027 during which firms can apply in order to get their authorisation ready to carry out the new activities from 25 October 2027.