United Kingdom Financial Conduct Authority is seeking public feedback on its plans to improve the transparency of the country’s cryptocurrency markets.
The FCA’s request for comment follows the publication of a discussion paper which will inform the development of its rules relating to the admission and disclosure of crypto-assets and abuses in the crypto-asset market, the regulator said on Monday (February 16) press release.
“We want to develop a fair, balanced and proportionate crypto regime for everyone,” the statement said. “We need government contribution, our international partners, industry and consumers to help us develop good rules in the future.
The FCA accepts comments until March 142025according to the press release.
The regulator aims to improve the integrity of the UK crypto markets, protect consumers and support the country’s growth and competitiveness.says the press release.
His discussion paper is based on previous government consultation and crypto roundtables led by the FCA, according to the statement.
The FCA added in the statement that crypto remains largely unregulated in the United Kingdom and consumers are Currently it is unlikely to be protected if something goes wrong.
“We encourage industry to share their expertise and help us shape the rules,” the statement said. “We want the industry to take the lead in developing new ways of disclosing important information to make sure people understand the risks before buying cryptocurrencies.
It has been reported in November, the UK will consider a comprehensive regulatory framework for cryptocurrency sector in 2025.
The Labor Party, which came to power in July, will draft rules including stablecoins and staking services.
“Doing everything in one phase is simpler and it simply makes more sense,” said the economic secretary to the Treasury. Tulip Siddiq said in November at a conference.
The FCA has published its cryptocurrency regulation road map in November and said it plans to release its final crypto rules in 2026.
The roadmap outlines a series of “targeted consultations,” an approach designed to make policymaking transparent and help people participate by making the process more manageable and flexible.
The FCA found that 12% of UK adults own crypto, up from 10% in previous findings.
