UK Chancellor of the Exchequer: FCA is independent of the government in terms of proposals to ban encrypted investment products

For more than a year, the UK Financial Market Conduct Authority (FCA) has been considering rules for cryptographic asset-related activities, and has previously launched the Cryptoasset Task Force, as well as a series of products on the provision of cryptographic assets and the provision of encryption-based services. Consultation of the company's requirements. Judging from the latest remarks of the British Treasury Secretary of State John Glen, the British government is not very concerned about issues related to the crypto-asset industry, nor is it concerned about developments around the FCA negotiations. On October 21st, John Glen replied to a series of questions related to cryptocurrencies, most of which were about prohibiting the provision of encrypted investment products to retail investors. John Glen said that the final decision of the consultation will be made by the Financial Market Conduct Authority (FCA), which is operationally independent of the government. The government continues to support the approach outlined in the Cryptoasset report as the right way to promote innovation while protecting consumers and companies. ”