The UK Financial Conduct Authority (FCA) seeks opinions on intermediaries, staking, lending, borrowing and distributed finance (DEFI) in a discussion paper released on Friday.
The discussion paper follows the draft bill released by the Treasury Department on Tuesday. When the law is passed, certain cryptographic activities will be brought within FCA regulations, the regulator said on its website.
“Crypto is a growing industry. Currently, it is hardly regulated, so we want to create a cryptographic regime that provides the clarity needed to safely innovate businesses while providing the right level of market integrity and consumer protection.”
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