UK's FCA Plans to Introduce Cryptocurrency Market Abuse Regime This Year

The UK's Financial Conduct Authority (FCA) intends to implement a market abuse regime for cryptocurrencies this year, according to its business strategy on Tuesday. The regime will apply to market abuse of any crypto asset traded on a UK exchange, regardless of where it is based. The business plan sets out an agenda to protect consumers, ensure market integrity and promote international competitiveness. Last year, the government published a consultation that included plans for a market abuse regime for crypto assets. The FCA is the country's main cryptocurrency regulator. So far, the FCA has implemented a cryptocurrency promotions regime, which includes requirements such as increased risk warnings and a 24-hour cooling-off period for first-time buyers. It has also been consulting on a stablecoin regime.