Jack Prettejohn

Risky business: brokers and platforms in the UK’s crypto regime

Once the UK’s draft regime regulating the conduct of certain activities in “qualifying cryptoassets” takes effect, firms offering particular services in the UK will need to decide whether to do so as a trading platform or a broker. Both are permitted options, but these are often pursued separately (and future crypto regulation in the UK might make them mutually exclusive). This article analyses and compares the commercial costs and benefits of offering services via on-platform trading in cryptoassets as operators of cryptoasset trading platforms (CATPs) and via over-the-counter activities as cryptoasset brokers.