The UK authorities intend to introduce a regime in the country to combat abuse in the crypto market
The UK Financial Conduct Authority (FCA) has announced that the anti-abuse regime in the crypto asset market will require all participants to identify and stop abuses, such as insider trading and market manipulation.
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 announced that, in accordance with the norms enshrined in the MAD regulation, crimes related to market abuse are defined as criminal and entail a variety of punishment options, up to imprisonment. Within the framework of a single legal framework, criminal sanctions for market abuse will be effective not only in the UK, but also on the territory of the EU member states, the authorities threaten.
