Ciaran Ryan
5 minute read
23 Nov 2020
8:24 am

Regulating crypto trade

Ciaran Ryan

This includes asset exchanges and platforms, brokers and advisors.

Many coins of various cryptocurrencies.

It’s been a long time coming, but it looks like the sheriff has finally arrived to the Wild West that is the crypto market. On Friday, the Financial Sector Conduct Authority (FSCA) published a ‘draft declaration’ that defines crypto assets as a financial product under the Financial Advisory and Intermediary Services (Fais) Act. This means that anyone giving advice or acting as an intermediary – such as a crypto exchange – would have to register as a financial services provider and comply with the requirements of the Fais Act. This will include crypto asset exchanges and platforms, as well as...