The UK Financial Conduct Authority has outlined plans to regulate crypto firms under a new framework set for 2026. Rather than creating entirely new laws, the FCA proposes adapting existing financial standards to crypto companies. This includes governance requirements under the Senior Managers and Certification Regime, operational resilience protections against cyberattacks, and consumer safeguards under the Consumer Duty framework.
The consultation also considers extending access to the Financial Ombudsman Service for crypto users. Retail protections will remain, while professional trades may be treated similarly to traditional multilateral venues. FCA Director David Geale said the aim is to balance innovation with integrity.
The proposals follow discussions between Chancellor Rachel Reeves, U.S. Treasury Secretary Scott Bessent, and executives from Coinbase, Circle, Ripple, Barclays, and Citi. Industry groups have urged regulators to include stablecoins and tokenization within the U.K.-U.S. “Tech Bridge.” Analysts say the framework signals Britain’s intent to remain open to digital innovation while curbing abuse.
You need to login in order to Like
Leave a comment