Share this article
UK Set to Prohibit Public Offers of Crypto
The FCA's paper also asks for industry input on its incoming markets admission and disclosures as well as market abuse regime.
Updated Dec 16, 2024, 11:45 a.m. Published Dec 16, 2024, 11:45 a.m.
What to know:
- The U.K. intends to prohibit public offers of crypto, the Financial Conduct Authority said.
- Last year the country put in place promotion rules to prevent U.K. firms from reaching out to U.K. clients.
The U.K. intends to prohibit public offers of crypto, the Financial Conduct Authority said in its paper on the incoming crypto regime on Monday.
Legislation will be put in place to prohibit public offers of crypto, building on the U.K.'s promotion rules that prevent unregistered crypto firms from reaching out to U.K. clients. Only crypto asset trading platforms and offers qualifying for exemptions may not be subject to this.
STORY CONTINUES BELOW
CoinDesk reached out to the Treasury for input on whether or not this only applies to regulated companies as the FCA could not comment on this.
The paper asks for industry input on its market admission and disclosures as well as market abuse regime and is one of many more papers to come from the regulator as it prepares for its crypto regime.
The FCA is the U.K.'s regulator in charge of overseeing financial activities in the country including crypto. It has been watching over the sector and seeing how it will comply with its money laundering rules since 2020 but it plans to put in place a new regime in 2026 following the implementation of draft regulation that is coming out next year.
It will need industry feedback on how it can ensure consumers have the necessary information to make informed decisions as well as on their plans to reduce fraud via the market abuse regime.
Read more: Matthew Long: The UK’s Crypto Gatekeeper
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Small Texas Lender Monet Joining Field of Crypto-Focused Banks
The bank is owned by billionaire Andy Beal, a major supporter of U.S. President Donald Trump's 2016 campaign.
Top Stories
