FIA EPTA welcomes the opportunity to respond to the HM Treasury (HMT) Consultation and Call for Evidence on the Future financial services regulatory regime for cryptoassets. FIA EPTA members believe that the market will benefit from further clarity by regulatory bodies with a global perception. Working jointly with market participants to reduce the current void in regulation and perspective between the market and regulators and policymakers. FIA EPTA members believe that it is preferable to include cryptoassets in the existing financial services framework rather than creating a bespoke piece of legislation. We strongly value the stated commitment to a level playing field and “same risk, same regulatory outcome”. However, FIA EPTA members are mindful that the use of technology such as DLT does present some material differences in trading and settlement that will need to be borne in mind when applying the framework and will no doubt necessitate further guidance.
- Digital Assets