United Kingdom: Closed consultation on oversight and regulation of crypto-asset activities

On 9 April 2024, the Isle of Man Financial Services Authority closed the consultation on the current approach to the oversight of crypto-asset activities for anti-money laundering and countering the financing of terrorism (AML/CFT) purposes. The inquiry seeks views on potential regulatory approaches, with possible options being the extension of the definition of ‘investments’ to include crypto assets, or the introduction of new categories of regulated activities corresponding to various types of crypto assets and services. The Authority is particularly interested in responses in light of recent international developments, such as the upcoming Markets in Crypto-Assets (MiCA) Regulation in the European Union.