UK Financial Regulator has requested input from the crypto industry on investment proposals. The Financial Conduct Authority wants crypto companies to provide their opinions so that consumers can have a more secure and structured investment environment through new policies. The proposals focus on high-risk crypto trading apps where people are investing without proper checks and warnings.
The FCA states that having experience in crypto or leveraged products is not proof of being a professional investor unless the capacity to bear losses and understanding of risks are clear. The aim of this step is to simplify rules and place more responsibility on companies.
The UK has already provided clarity to the market by granting legal property status to digital assets. According to analysts, there may be some tightness in the short term due to the rules, but in the long term, this move could prove bullish for the market by increasing institutional investor trust.
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