The Financial Conduct Authority (FCA) of the United Kingdom requests public comments on the key aspects of cryptographic industry, in particular stake, loans, loans, intermediaries and decentralized finances (DEFI).
The request was published Friday in a newly published discussion document, part of a broader effort to shape the future cryptographic regulatory framework of the country.
The British Treasury writes legislation on cryptography to extend the monitoring of the FCA
This decision follows the British Treasury bill announced earlier this week, which aims to provide activities related to specific cryptography under the supervision of the FCA.
Once approved, the legislation would expand the authority of the FCA to supervise areas such as crypto exchanges, the issuance of stables and the DEFI platforms.
“Crypto is a growing industry. Currently largely unregulated, we want to create a cryptographic regime that gives companies the clarity they need to innovate in complete safety, while offering appropriate levels of market integrity and consumer protection, “said David Geale, executive director of digital payments and finance at the FCA.
The government’s wider cryptography strategy is based on the Act respecting financial services and markets, adopted in 2023, which allowed the Treasury to establish new regulations on digital assets.
The United Kingdom endeavors to catch up with the European Union, which has implemented its markets within the framework of the Crypto-Asets (Mica) assets in 2023.
@Thefca Research the way in which the unique aspects of cryptocurrency should be taken into account in the future regulatory regime of the United Kingdom.
This includes a discussion on the features of the future regime, with this last discussion document (DP) in search of points of view on how the United Kingdom regulates trade … pic.twitter.com/52f91vyuit
– The British Blockchain Association (@brit_blockchain) May 2, 2025
Meanwhile, the United States has attenuated its approach under President Donald Trump, the Securities and Exchange Commission supposing prosecution against several cryptographic companies.
The Minister of Finance, Rachel Reeves, recently reiterated the government’s commitment to promote a competitive digital asset ecosystem.
Speaking at the World Innovation Finance Summit, Reeves stressed that the upcoming rules are designed to position the United Kingdom as a center for innovation and cryptographic investment.
She also underlined the plans to collaborate with the American authorities on responsible development of digital assets.
The Treasury invites technical comments to the bill until May 25 and plans to publish additional details on the rules concerning market abuses, disclosure and asset admissions in the coming months.
British commercial associations urge a special meeting in Crypto envoy
Earlier this year, a coalition of main British commercial associations called the government of Prime Minister Keir Starmer to appoint a special envoy for the crypto and develop a full action plan to support digital assets and the blockchain sector.
In a letter addressed to Varun Chandra, the Special Advisor to Starmer on businesses and investments, six British digital economy organizations highlighted the need for stronger strategic alignment to unlock investments, growth and job creation within the cryptographic industry.
In September, the British government presented a new bill aimed at clarifying the status of digital assets, including non-buttocks (NFT), cryptocurrencies and carbon credits, as “things” and “personal property” under the laws on the property of the country.
The United Kingdom was one of the countries that increased regulatory efforts following a few leading bankruptcies last year.
The FCA oversees cryptographic activities, focusing on anti-whiteness and consumer protection measures.
Last year, the FCA implemented new rules which oblige cryptographic companies to register with the financial regulator and to have their marketing equipment approved by a company authorized by the FCA.
Key updates include exchanges providing clear warnings to customers on the risks associated with cryptographic investments.
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