The UK's Financial Conduct Authority (FCA) is considering whether it needs to take regulatory action on initial coin offerings (ICOs). In a report published in July, the FCA said that ICOs were "likely to be subject to regulation and supervision by UK financial regulators". ICOs have faced increased regulatory scrutiny globally after a series of scams and cyber attacks, with China already having banned them. The FCA earlier warned that ICOs are "high-risk" investments, the majority of which are unregulated. The review is being undertaken as part of research into distributed ledger technology.
The UK's Financial Conduct Authority (FCA) is considering whether it needs to take regulatory action on initial coin offerings (ICOs). The FCA is examining the market for ICOs, which have become increasingly popular as start-ups attempt to raise funds from cryptocurrency investors. ICOs have faced increased regulatory scrutiny globally after a series of scams and cyber attacks, with China already having banned them. The FCA earlier warned that ICOs are "high-risk" investments, the majority of which are unregulated. The review is being undertaken as part of research into distributed ledger technology.