Comments to the guidance on crypto-assets issued by the Financial Conduct Authority

By Aurelio Gurrea Martínez

On 23 January 2019, the Financial Conduct Authority (FCA) issued a guidance on crypto-assets (FCA-GC) in order to improve and clarify the regulatory framework of crypto-assets in the United Kingdom. In this document, the FCA seeks comments from the general public before issuing a final guidance.

Due to the importance that this guidance may have for the design of a safe and efficient regulatory environment for crypto-assets not only in the United Kingdom but also in other jurisdictions potentially following the regulatory approach established by the FCA, I have decided to submit a document expressing a series of thoughts about the flaws and potential ways to improve the aforementioned guidance.

The document can be found on the following link.