The UK Financial Conduct Authority (FCA) plans to relax some regulations for cryptocurrency firms, according to a Financial Times report. This move recognizes the distinct characteristics of crypto assets.
FCA intends to impose stricter rules on industry-specific risks, like cyber attacks, while easing requirements on cryptocurrency firms, allowing them to operate under less stringent conditions than traditional financial bodies.
The FCA aims for a complete integration of cryptocurrency regulations by 2026, aligning them more closely with existing frameworks while accounting for the unique aspects of the crypto market.
Leave a Reply