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The UK Financial Conduct Authority (FCA) has begun the process of defining which cryptoassets it will be regulated by opening a consultation on the "small but growing market", which poses "substantial risks to consumers". You can read the Consultation Paper Here
We are consulting on Guidance for cryptoassets in order to provide regulatory clarity for market participants carrying on activities in this space. The cryptoasset market, and the underlying DLT technology, is developing quickly and participants need to be clear on where they are conducting activities that fall within the scope of the FCA’s regulatory remit and for which they require authorisation.
https://www.fca.org.uk/publications/consultation-papers/cp19-3-guidance-cryptoassets
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