There has been a lot of media coverage following the CMS Select Committee report published earlier this week and we wanted to clarify important information.
As we posted in our response on the 11 October, we want to make it clear that all crypto assets, including Fan Tokens are not regulated in the UK. It is the promotion of Fan Tokens that is subject to new regulatory restrictions and supervised by the FCA.
We want to clarify on record that crypto assets, including Fan Tokens, remain unregulated in the UK. They are not regulated investments and we were not insinuating that the FCA in any way regulates or endorses them.
Original response posted 11 October can be found here: https://www.socios.com/response-to-cms-select-committee-report-on-nfts-and-blockchain/