UK FCA moves to final consultation on consumer duty rules for crypto firms and Ripple MLR license

The UK Financial Conduct Authority is entering the last stage of its consultation on how consumer duty requirements will apply to crypto firms, with feedback due by March 12 and an approval gateway for cryptoasset promotions planned for September. The regulator has also granted money-laundering regulations registration to Ripple and confirmed that new rules will require full authorization for most crypto businesses, while cryptoassets will remain outside Financial Service Compensation Scheme protection.