UK Regulator To Tighten Measures Against Crypto Market Abuse
The UK’s Financial Conduct Authority (FCA) plans to enhance its capabilities in detecting and pursuing market abuse in the crypto sector and delivering a proportionate market abuse regime for the
asset class in the next 12 months.
The regulator will improve monitoring and intervention systems to cover market abuse and integrity, and develop advanced analytics capabilities, including network analysis and cross-asset class visualizations.
The FCA will also work on a market abuse regime for crypto assets and the Private intermittent Share and Capital Exchange Service facility. The regulator will develop a framework to support innovation and lower industry costs.
It will continue to supervise financial promotions published by crypto firms and increase its tech capabilities to detect harmful promotional material. Additionally, the regulator will develop consumer awareness campaigns to educate investors on scams.
(With inputs from Shikha Singh)
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