Football & Fan Tokens – What Potential UK Financial Regulation Could Mean For Sports Clubs
The UK Treasury has recently published a consultation paper which proposes extensive changes to the regulation of cryptoassets in the UK (the Consultation).1
For those in the sports sector, that fan tokens should fall within the scope of the proposed regulatory regime will be of interest. The broad nature of the Treasury’s proposals has the (in the authors’ view, somewhat surprising) result that operating a platform for trading fan tokens, or arranging deals in fan tokens, could become a regulated activity within the scope of the Financial Services and Markets Act 2000. Such a role for financial services regulation would have seemed extraordinary in the days of trading football stickers in the playground or baseball cards on eBay.
This article examines the new potential regulation, looking at:
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- Tags: Crypto | Fan Token | Financial Services and Markets Act 2000 | Football | Regulation | UK
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Chris is a Partner in Freshfields' Corporate and M&A team. Chris advises companies across a range of sectors on raising equity in the public markets and on public company M&A. He also leads our Sports and Gaming practice.
Rhodri Thomas is a partner in Freshfields’ Dispute Resolution group. Rhodri acts for a range of national and international sports governing bodies, teams and individual athletes on regulatory issues and disputes.