The Regulation of Cryptoassets

The publication of the Financial Conduct Authority’s Guidance on Cryptoassets in July highlighted the complexities of regulating such a dynamic and diverse area of finance. A combination of market
immaturity, volatility and opacity raises concerns about market integrity, manipulation and consumer protection. Indeed, the FCA has controversially proposed to ban the sale to retail clients of investment products that reference cryptoassets.

However, the regulatory headaches do not end there. The pace of development of new products, new technologies and new entrants presents numerous challenges for regulatory bodies and market
incumbents while offering boundless opportunities for disruptors in the financial markets. Perhaps the greatest threat to traditional financial institutions comes not from start-ups but from BigTech, with Facebook’s launch of Libra being just one of many new initiatives. The strength of their offering rests on their unparalleled access to consumer data and even deeper understanding of consumer behaviour.

This event will build on the success of City & Financial’s previous Summit on the Regulation of Cryptocurrencies, but will focus on the regulation of cryptoassets in more general terms as it applies to all forms of digital tokens.

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