Regulatory Policy Committee
January 23
16:57
2023
Details
The measure, implemented in 2021, prohibits the sale, marketing, and distribution of derivatives and exchange-traded notes (ETNs) that reference particular types of unregulated, transferable crypto-assets to all retail clients by firms in or from the UK. The RPC found that the BIT assessment had not included sufficient evidence to support the assumptions made, or adequately explained the approach to the cost benefit analysis undertaken to produce the EANDCB seeking validation. The assessment also failed to clearly establish what would happen to the market in the absence of the intervention, limiting the ability to determine the change resulting from the measure.