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Vinay Vasanji
@vinayvasanji.eth
UK's FCA consultation published today effectively bars crypto public offerings https://www.fca.org.uk/publications/discussion-papers/dp24-4-regulating-crypoassets
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Sandiforward
@sandiforward
Can you share how you interpret it @vinayvasanji.eth and impacts?
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Vinay Vasanji
@vinayvasanji.eth
Couple of key takeaways - comprehensive crypto regulatory regime will be in place by 2026 - focus is on stablecoins and select unbacked assets like Bitcoin and Ether, most other crypto assets will be regulated under existing FSMA regs for securities (hence no ICOs) - they recognize cryptos pivotal role for the future of finance (v. imp, pro innovation regulators) - fragmented information distribution makes crypto distinct from traditional finance and remains problematic/unsolved Incidentally this is somewhere Farcaster could play a role - act as a primary information provider - but @dwr.eth and @v need to become more strategic about onboarding projects rather than just users. Regulators and users need a canonical reference for crypto project announcements and Reddit/X don't meet the bar
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