The report reveals that the UK Financial Conduct Authority (FCA) CEO Nikhil Rathi outlined the regulator's digital innovation strategy for the coming year in a letter to Prime Minister Keir Starmer. The report states that the FCA has advanced financial technology innovation across multiple fields, especially in the field of crypto assets, including allowing retail crypto exchanges to trade notes (cETNs) and simplifying related product information. The FCA plans to continue refining the regulatory rules for digital assets by 2026, strengthen policy support for stablecoins, and promote the issuance of GBP stablecoins in the UK. The UK has adopted a phased approach to cryptocurrency regulation, aiming to balance innovation with consumer protection. Additionally, the FCA will promote an open financial system, with a focus on supporting SME lending and further simplifying regulatory requirements.
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The report reveals that the UK Financial Conduct Authority (FCA) CEO Nikhil Rathi outlined the regulator's digital innovation strategy for the coming year in a letter to Prime Minister Keir Starmer. The report states that the FCA has advanced financial technology innovation across multiple fields, especially in the field of crypto assets, including allowing retail crypto exchanges to trade notes (cETNs) and simplifying related product information. The FCA plans to continue refining the regulatory rules for digital assets by 2026, strengthen policy support for stablecoins, and promote the issuance of GBP stablecoins in the UK. The UK has adopted a phased approach to cryptocurrency regulation, aiming to balance innovation with consumer protection. Additionally, the FCA will promote an open financial system, with a focus on supporting SME lending and further simplifying regulatory requirements.