The post FCA to Implement UK Crypto Regulation Framework by 2026 appeared on BitcoinEthereumNews.com.

The U.K. financial regulator, the Financial Conduct Authority (FCA), has announced plans to introduce a detailed UK crypto regulation framework by 2026 as crypto market surge brings an urgency to appeal to the growing adoption of cryptocurrencies within the country. In its newly released roadmap, the FCA laid down its aim to release discussion papers on key topics ranging from market abuse, disclosures, and stablecoins by the end of this year. By early 2025, the FCA will also address critical areas like trading platforms, staking, prudential crypto exposure, and lending. The final policy statements, expected in 2026, will establish the official launch of the crypto regime. UK Crypto Regulations For Growing Adoption A recent study by the FCA revealed a 4% increase in crypto asset ownership over the past two years, with approx 7 million adults, or about 10% of the UK population, now holding cryptos. Notably, following pro-crypto Republican Trump’s election victory, the cryptocurrency industry witnessed a surge in asset prices,which was seen as a signal of more favorable and relaxed policies for the crypto industry. As a result, the UK government has jumped on the chance to advance cryptocurrency regulation so that UK startups don’t get lured towards other jurisdictions, particularly the US. Additionally, the prospective roadmap follows a speech by Economic Secretary Tulip Siddiq last week, in which she promised draft regulations on cryptocurrencies, stablecoins, and staking by early 2025. This announcement marks the first concrete step by the Labour government, elected in July, to address the growing crypto sector. The FCA’s roadmap is designed to ensure transparency and instill suggestions from industry stakeholders. Matthew Long, the FCA’s director of payments and digital assets, emphasized the importance of collaboration, stating, “We’re committed to working closely with the Government, international partners, industry, and consumers to ensure we get…

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Filed under: News - @ November 26, 2024 6:26 am