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@ The British Blockchain Association
2025-05-23 11:26:07
🇬🇧 Last week, BBA submitted its official response to HM Treasury's Draft Statutory Instrument on Cryptoassets (FSMA 2000 – Regulated Activities and Miscellaneous Provisions Order 2025).
➡️ We commend HM Treasury for taking a proactive and consultative approach to extending the FSMA perimeter to cover cryptoasset-related activities. The draft SI marks a significant step towards regulatory clarity, aligning, in parts, with the EU’s MiCA framework and the UK’s financial promotions regime.
⚖️ However, in regulating such a fast-evolving sector, proportionality and precision matter. Our submission identifies areas where greater clarity is needed in definitions, scope, and operational feasibility to avoid unintended consequences.
📍While the DSI reflects a move from broad principles to detailed codification, some provisions remain high-level and open to interpretation. Our response sets out technical recommendations, policy considerations, and #evidence gaps that merit further attention.
A big thank you to our advisors, members and partners for supporting this important submission.
🏛️ As the UK's leading industry body advancing evidence based adoption of Web3 technologies, and as Secretariat of the APPG on Blockchain Technologies, we will continue to upskill, educate, inform and guide legislators and policymakers on Blockchain and Cryptoasset technologies.
Emma Reynolds Rt Hon Rachel Reeves Prof. Dr nostr:nprofile1qqsrqyymajeq8uafk9p3p4a9eucl35d9h56ztrqt6mqvw2rdtfn4ascpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzxrhwden5te0d35kw6r5de5kuemjv4kxz7fwvdhk60fvfsn MBE FBBA Larisa Yarovaya Lord Iain McNicol Financial Conduct Authority
#CryptoRegulation #UKBlockchain #Policy #FSMA #DigitalAssets #BBA #Web3 #CryptoCompliance #MiCA #CryptoLaw
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