Innovate Finance launches crypto policy group
Innovate Finance has launched a policy group on cryptocurrency and digital money.
The fintech trade body, whose members include peer-to-peer lending platforms such as Blend Network, introduced the policy group on cryptocurrency to respond to City watchdog proposals on financial promotion rules for the sector.
Innovate Finance has responded to several consultations on new regulations this year including the Treasury’s consultation on future regulatory framework and the Financial Conduct Authority’s (FCA) consultation on consumer duty.
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“We convened the crypto and digital money companies in our membership with an initial aim of responding to the FCA’s consultation on financial promotion rules for cryptoassets, and we will be broadening the scope of our work on crypto and digital money with a view to develop a vision of how the UK can be a leading centre for responsible crypto and DeFI, combining innovation, competition, stability and consumer protection,” Janine Hirt (pictured), chief executive of Innovate Finance, said in a letter to its members.
Hirt also said in the letter that Innovate Finance is working on ways to help Ukraine.
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“I am sure you, like all of us at Innovate Finance, are horrified by the events unfolding in Ukraine,” she said in the letter.
“We are working closely with our members and convening the fintech community to help Ukraine, support the international response and support fintech resilience and legal obligations.
“On 11 March we held our Ukraine Aid Forum, an opportunity for members of the ecosystem to discuss how the FinTech community can come together to bring help to those affected by the crisis. We are working on the outputs of this session now, and will continue to hold opportunities for the sector to convene and take action in the coming weeks.”