The new regime will apply to all representatives of the cryptocurrency industry, individuals and legal entities based both in the UK and abroad.
The FCA has announced that the MAD rules define abuse of market power offenses as criminal offenses and carry a range of penalties, including imprisonment. Within the framework of a single legal framework, criminal sanctions for market abuse will apply not only in the UK, but also in territories EU member states, the authorities are threatening.
Previously, the FCA published a report for 2023, which stated that the regulator had stopped the activities of 450 crypto companies illegally offering their services to citizens of the United Kingdom.
Source: Bits
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