British Regulator Plans to Reform Crypto Companies Listing Regime

The Financial Conduct Authority (FCA) of the UK is going to make the listing regime for legal entities understandable and competitive.

In March, the FCA warned companies dealing with digital assets of the need to obtain mandatory approval from the British regulator, giving the right to operate in the country. The participants of the crypto-currency market called the lack of clear legislative norms and biased attitude on the part of the regulator as the reasons preventing timely registration and listing.

The head of a large crypto company Blockchain.com, Peter Smith, accused the regulator of avoiding technological and financial innovations, seeking only to manage risks.

The FCA took into account the claims received by it and announced about the intention to reform the listing regime for British companies. The management believes that the new listing regime will attract the attention of more high-tech companies and start-ups, as well as provide investors with more opportunities.

Under one of the FCA’s proposals, companies wishing to list in the UK will no longer have to choose between different standards. Companies will have to meet one set of criteria.

“The London market is trusted all over the world. And companies seeking to raise capital, and those who wish to invest. The rules for companies have not changed since the 1980s, and now is the perfect time to change. So that we have a more accessible, competitive and growing market that is attractive to a wide variety of companies,” says Clare Cole, director of market surveillance for FCA.

Earlier, FCA Chairman Charles Randell (Charles Randell) announced the intention of the UK to become one of the world leaders in technology and innovation. However, the head of the department doubts the legality of digital assets due to their lack of “intrinsic value”.