October 27, 2021

Volume XI, Number 300

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October 27, 2021

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FCA Publishes Distributed Ledger Technology Feedback Statement

Following the publication of its discussion paper regarding the risks and opportunities, and characteristics of distributed ledger technology (DLT) in April 2017, the FCA’s feedback statement FS17/4 sets out responses received and the FCA’s next steps.

The responses related to the following issues:

  • operational risk, including outsourcing and network security;

  • digital currency, including digital currency derivatives and initial coin offerings (ICO);

  • digital asset trading and smart contracts;

  • regulatory reporting;

  • financial crime; and

  • data protection.

Among the FCA’s next steps, it highlighted its intention to gather further evidence on the ICO market to consider whether there is need for further regulatory action, and to work collaboratively with international operators to support efforts to develop a globally harmonised approach to DLT.

Copyright © 2021 Womble Bond Dickinson (US) LLP All Rights Reserved.National Law Review, Volume VII, Number 354
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About this Author

Roseyna Jahangir attorney Womble London
Attorney

Roseyna is a member of the financial services team. She works with clients ranging from banks and insurers to new entrants to the markets and companies for whom financial services are non-core activities; she assists clients in achieving their commercial objectives while operating within and complying with the applicable regulatory requirements. 

Roseyna provides practical advice and assistance on a broad range of financial services issues, including the requirements of the Financial Services and Markets Act and the Consumer Credit Act and...

+44 (0)20 7788 2377
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