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UK Cryptoassets Taskforce publishes its final report

Sam Maxson (Latham & Watkins, London, UK)
Stuart Davis (Latham & Watkins, London, UK)
Rob Moulton (Latham & Watkins, London, UK)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 9 May 2019

Issue publication date: 23 July 2019

Abstract

Purpose

To analyse the final report of the UK Cryptoassets Taskforce published in October 2018 and discuss the UK’s policy and regulatory approach to crypto-assets and distributed ledger technology in financial services.

Design/methodology/approach

This article considers some of the key aspects of the final report of the UK Cryptoassets Taskforce and provides a summary of the next steps the UK authorities have committed to taking in relation to regulation of crypto-assets in the UK.

Findings

The approach to regulation of crypto-assets in the UK is evolving and the relevant UK authorities are continuing to improve their understanding of crypto-assets in order to assess the appropriate type and level of regulation that should apply to them. Whilst risks relating to consumer detriment and anti-money laundering have been identified as needing to be addressed as a matter of priority, the UK authorities appear to be taking a measured approach to regulation of crypto-assets. They also remain supportive of the adoption of distributed ledger technology in financial services, whilst noting some potential challenges to scalability.

Originality/value

This article contains valuable information about current policy direction and regulatory thinking in the UK in relation to crypto-assets, and analysis from leading FinTech lawyers.

Keywords

Citation

Maxson, S., Davis, S. and Moulton, R. (2019), "UK Cryptoassets Taskforce publishes its final report", Journal of Investment Compliance, Vol. 20 No. 2, pp. 28-33. https://doi.org/10.1108/JOIC-02-2019-0015

Publisher

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Emerald Publishing Limited

Copyright © 2019, Latham & Watkins.