You have questions about FinTech and crypto offers

Financial-market law is technology-neutral. FinTech and crypto providers may need authorisation depending on the business model, client asset flows and risks.

Business model matters

Crypto or technology-based services can resemble existing financial services such as deposits, payment services, trading, custody, investment management or collective investment schemes. The authorisation question depends on what the provider actually does, not on the technology label.

Client precautions

Clients should check who operates the platform, where the company is domiciled, whether it is authorised, how assets are held, what rights the client has and whether promised returns are realistic.

Reports to SFMA

A report should explain the provider, website, product, wallet or account flows, promised service, payments made and any evidence that client assets are being accepted or managed without the required authorisation.