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<p>Another key step is based on re-introducing the token taxonomy act for excluding crypto from securities law, which pursues the placement of regulatory certainty for the regulators and investors.
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<strong>In the U.K.</strong>
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The U. K's Financial Conduct Authority (FCA) has announced some restrictions on crypto assets as a part of the compliance strategy with 5AMLD. In November 2019, FCA issues clear instructions for crypto-related companies, just before the introduction of the European Union's Fifth Money Laundering Directive (5AMLD). FCA declared itself as anti-money laundering and anti- terrorist financing regulator of UK crypto-related businesses or entities that were required to register themselves with FCA till January 10, 2020. These businesses include creators and issuers of crypto assets, businesses marketing crypto-asset services and products, businesses trading crypto, firms holding and saving crypto assets, investment exchanges.
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