VNX CEO & Founder Comments on UK Regulation of Crypto Assets as Financial Products.
31 Oct 2022, 14:41
📢VNX CEO & Founder Comments on UK Regulation of Crypto Assets as Financial Products
UK lawmakers have voted in favor of a crypto-related amendment to the Financial Services and Markets Bill, impacting restrictions of regulation and promotion of crypto-assets.
✨Our CEO & Founder — Alexander Tkachenko, weighed in on the draft bill, suggesting that a variety of crypto-assets should be regulated differently.
“Security tokens are actually regulated as financial instruments in the EU, for example, however, utility tokens do not meet such criteria and shouldn’t fall under the category of financial instruments. If UK lawmakers follow this path, this would be in line with the EU approach to crypto-asset regulation and be positive for crypto industry development,” he said.
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