1/11: The use of #AI & machine learning (#ML) in financial services brings benefits, but also novel challenges & amplified risks. The question of whether AI can be managed through existing regulations or requires a new approach is crucial in ensuring the interests of the markets. 2/11: Achieving regulatory excellence in #AI regulation involves clear & transparent regulations, a risk-based approach, stakeholder engagement, science-based decision-making, regulatory cooperation, continuous improvement, flexibility, efficient processes & accountability.

1/9 The launch of the Crypto & Digital Assets All Party Parliamentary Group’s report on making the #UK a #crypto hub highlights the potential for the country to lead in crypto innovation, provided the right regulatory framework is in place. 2/9 But urgent regulation in the industry is still needed. The report showcases a prime example of successful public-private collaboration, acknowledging the opportunities presented by the #cryptocurrency & digital assets industry.

1/14 These critical threads highlight key points on the latest FCA 'Research Note: Cryptoassets consumer research 2023'; revealing a significant increase in #cryptoasset ownership in the #UK, with 9% of adults (4.97m) owning cryptoassets in 2022; highlighting the growing adoption 2/14 The research highlights that 15% of #cryptoasset users have purchased #stablecoins. This indicates that stablecoins, which are designed to minimise price volatility, have gained traction as a popular choice among #crypto investors. #CryptoassetsOwnership

1/10: This threads critically highlight a few points on the #UK #FCA Proposal on #Cryptoasset Financial Promotions Rule that seeks feedback on how they approach & how firms comply with their requirement of fairness, clarity and not misleading. #CryptoRegulations 2/10: The FCA has introduced new regulations for marketing cryptoassets to #UK consumers. This move requires firms, including those based overseas, to comply with the regime and review the statutory instrument alongside the Policy Statement (PS). #CryptoRegulations