UK FCA Executive Director: Will strengthen regulation of crypto activities and introduce a reciprocal registration system for overseas crypto companies in the future

2023-04-26 08:56:37

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ChainCatcher news, Sarah Pritchard, Executive Director of the UK Financial Conduct Authority (FCA), stated at the London City Week conference that there are plans to strengthen the regulation of marketing for crypto activities. The rules will be announced after the legislation is proposed, and once the government legislates, relevant companies will have 4 months to make corrections.

In addition, the FCA has been working closely with the government to develop proposals for regulating stablecoins that can be used for payments and is consulting on the regulation of a broader crypto asset framework, with the public able to provide feedback until April 30.

In the future, the Treasury may also decide to introduce a reciprocal registration system for overseas crypto companies. Sarah Pritchard mentioned that she hopes to obtain industry feedback to ensure the right unregulated framework is established for crypto assets. (source link)

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