The Financial Conduct Authority has begun seeking final feedback on a set of proposals aiming to apply traditional finance standards to the UK crypto sector.
The UK’s financial watchdog is entering the final stages of its consultation process for a host of key proposed crypto regulations as the agency continues to work on the government’s crypto roadmap.
The Financial Conduct Authority said on Friday that it is now seeking feedback on 10 crypto regulatory proposals, marking the “final step” of its consultations on potential rules for the sector.
“These proposals continue our progress towards an open, sustainable and competitive crypto market that people can trust,” the FCA said.
The FCA’s crypto proposals cover a range of aspects of the market, including business standards of conduct, credit-based crypto purchases, regulatory reporting, asset safeguarding, and retail collateral treatment for borrowing crypto, among other things. The deadline for feedback has been set for March 12.
This package of proposals was initially outlined in December, with the FCA expressing an intent to regulate the crypto market similarly to traditional finance.
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The FCA stated it has made “significant progress” in ironing out the regulatory details as part of the government’s roadmap. Earlier this month, the FCA announced a timeline for crypto asset service providers to register as part of its new licensing regime.
“We expect the application period will open in September 2026,” the FCA noted, adding that the timeline will be confirmed in due course.
The licensing regime puts tighter oversight and constraints on crypto firms, and requires them to have FCA authorization to operate in the UK.
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Source: https://cointelegraph.com/news/fca-nears-final-consultation-step-of-new-crypto-regime?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
