UK FCA proposes bringing cryptocurrency companies under comprehensive UK regulation

Jinse Finance reported that the UK Financial Conduct Authority (FCA) has proposed to fully incorporate cryptocurrency companies into its regulatory framework, pledging to establish a system that reflects traditional financial rules while making adjustments based on the specific risks and characteristics of the digital asset market. In a consultation paper released on Wednesday, the regulator stated that while these proposals reflect many requirements already applied to other financial firms—including operational resilience, senior management accountability, robust systems and controls, and measures to prevent financial crime—the new cryptocurrency standards will be “proportionate.” The FCA aims to protect consumers, reduce financial crime, support growth, and ensure that UK companies remain internationally competitive. Feedback is expected to be submitted in October and November, and the final rules are expected to be released in 2026 after further industry consultation on specific activity requirements.