Bitcoin

  • The Advertising Standards Authority issued an opinion on an advertisement by a Bitcoin advertising and currency exchange alleged to be misleading and socially irresponsible.
    In Force
  • This guidance aims to help firms have a better understanding of whether their crypto asset activities fall under FCA regulation. Firms will also know whether they need to authorized and what they need to do to ensure they are compliant. Consumers should be mindful of the absence of certain regulatory protections when considering purchasing unregulated crypto assets. Unregulated crypto assets (e.g. Bitcoin, Ether, XRP etc.) are not covered by the Financial Services Compensation Scheme and consumers do not have recourse to the Financial Ombudsman Service.
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  • The emergence into the public discourse in 2009 of the novel peer-to-peer Bitcoin crypto-currency phenomenon caught many regulators unawares. We now know that Bitcoin and its underlying ‘blockchain’ technology represented a transformational vanguard of a new ‘trustless’ method of sharing data and processes and contracting in a decentralized, traceable and secure manner and, in many cases, without the need for intermediaries. The family of blockchains and its analogues are now known as distributed ledger technologies (DLTs).
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