The FCA categorised the cryptoassets into regulated tokens and unregulated tokens.
FCA is the Anti Money Laundering and Countering Terrorist Financing (AML/CTF) supervisor for firms carrying on certain cryptoasset activity.
Carrying on activities involving regulated tokens will require appropriate authorisation and permission from the FCA.
Any cryptoasset token that is not a security token, or an e-money token is an unregulated token.
Exchange Token -transferring, buying and selling of these tokens, including the commercial operation of cryptoasset exchanges for exchange tokens, are activities not currently regulated by the FCA.
Cryptoasset activity falls within UK AML regime but the cryptoassets are outside the regulatory perimeter of FCA unless the cryptoasset becomes specified investment carried on under RAO.
The activity of the participants within cryptoasset market may fall within the RAO or other regulatory requirements which compel them to seek authorisation from the FCA