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UK's FCA consultation published today effectively bars crypto public offerings

UK's FCA consultation published today effectively bars crypto public offerings https://www.fca.org.uk/publications/discussion-papers/dp24-4-regulating-crypoassets

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

Here for 'Proof of' tokenisation and on-chain Commerce.📈 /growth at poap.xyz I 🟪 /purple DAO 🦁 @safary mod for /london + /poap


Can you share how you interpret it @vinayvasanji.eth and impacts?