Susie on Nostr: Bitcoin is not a generic cryptoasset and “Same risk, same regulation” only works ...

Bitcoin is not a generic cryptoasset and “Same risk, same regulation” only works if you look at the risk.

Bitcoin has:
- no company
- no insider allocation
- no one who can change the supply

Many of the tokens sitting beside it in the FCA’s cryptoasset rulebook have all three.

In addition, classifying Bitcoin as a Restricted Mass Market Investment brings warnings, appropriateness tests and cooling-off periods built for products with promoters and issuers … Bitcoin has neither.

If the risks are different, the rules should be too.

See our open letter to the FCA, explaining why “same risk, same regulation” should work both ways.

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nevent1q…wthn

Bitcoin is not a generic cryptoasset.
We’ve written to the FCA arguing that “same risk, same regulation” should work both ways.

Bitcoin has no issuer, no controlling company and no organisation that can change its supply or allocate tokens to insiders.

It is not asking for special treatment. It is asking to be regulated according to the risks it actually presents.

Read the full article and open letter:

https://bitcoinpolicy.uk/blog-1/f/bitcoin-is-not-a-generic-cryptoasset-our-open-letter-to-the-fca

Susie (npub1hwg…03sg)