UK regulators set out approach to crypto and Decentralised Finance

The UK regulatory authorities published a number of documents on cryptoassets and decentralised finance (DeFi) on 24 March 2022.

The Bank of England’s Financial Policy Committee (FPC) issued Financial Stability in focus: Cryptoassets and decentralised finance, on the financial stability implications from crypto and DeFi. The PRA sent a Dear CEO letter to banks and PRA investment firms, setting out the PRA’s expectations around cryptoassets, and the FCA published a notice to regulated firms with exposure to cryptoassets, reminding firms of their obligations.

Download this At a glance to see our summary of the regulators’ views and expectations, and the subsequent actions for firms.