FCA Cryptoasset CP Archax Response

Archax Ltd, a forthcoming institutional focused Trading Venue and FCA Regulated MTF for Security Tokens, pending authorisation, welcomes the opportunity to respond to the FCA CP19/3 Guidance on Cryptoassets, published January 2019.

While cryptoassets have become an area of increased focus for the investment and capital markets community over the last few years the activity has been largely unregulated, and where regulated based in smaller, sometimes offshore, jurisdictions. Archax believes that for cryptoassets to evolve and mature that regulation of the instruments, where applicable, and the venues where they are traded must be akin to the current regulatory standards of infrastructure that are currently enjoyed by market participants.

Investors should be comfortable that the Trading Venues on which they execute are operating to the highest standards of market integrity and honesty, backed by the appropriate levels of regulatory oversight, to foster confidence in the markets and those instruments made available for trading.

The work of the FCA and HMT in addressing these issues is appreciated and encouraged by Archax.

Click below to read the full paper.