News

ChainCatcher news, according to Ledger Insights, the UK Financial Conduct Authority (FCA) has announced the launch of a stablecoin working group as part of its regulatory sandbox program, with the application deadline set for January 18, 2026. According to Bloomberg, the UK Debt Management Office is exploring the expansion of the UK government bond market, a move that will be related to stablecoin reserves. In a speech yesterday, David Geale of the UK Financial Conduct Authority stated that a "large enterprise" has been included in the sandbox program to test a pound sterling stablecoin for payments. Sandbox participants must ensure that their designs comply with the requirements set out in the FCA's consultation paper published in May. The UK adopts a dual-track approach to stablecoin regulation: the Bank of England regulates systemically important stablecoins for prudential and financial stability purposes, while the FCA is responsible for regulating other stablecoins, as well as overseeing conduct and consumer protection for all stablecoins.

Jinse Finance reported that the UK government has proposed a "No Gain, No Loss" tax scheme for cryptocurrency lending and liquidity pool arrangements, which defers the payment of capital gains tax until an actual economic disposal occurs. This proposal has received support from major industry institutions and aims to align tax rules with the actual operational mechanisms of DeFi, reduce users' administrative burdens, and avoid tax outcomes that do not reflect economic substance. The UK government will continue to consult with industry stakeholders to refine the rules. The final plan may exclude tokenized real-world assets (RWAs) and traditional securities, and may require users to report large transactions.