The UK aims to introduce a comprehensive regulatory framework for the cryptocurrency industry by 2026, as Prime Minister Keir Starmer’s government seeks to align itself with other leading financial hubs.
The Financial Conduct Authority (FCA) announced on Tuesday that it would kick off a series of consultations and discussion papers as early as this quarter.
These efforts will shape policies addressing market abuse, trading platforms, crypto lending, and stablecoins, among other critical areas.
“We’ve had numerous constructive discussions with industry stakeholders recently, focusing on lessons learned from regulatory practices worldwide,” said Matthew Long, the FCA’s Director of Payments and Digital Assets, in an interview with Bloomberg TV.
The UK is striving to catch up with financial centres like Hong Kong, Singapore, and the United Arab Emirates, all of which have introduced crypto regulations in recent years.
Meanwhile, the European Union’s comprehensive crypto framework is set to be fully implemented by the end of this year.
Adding to the urgency is the recent election of crypto advocate Donald Trump for another term as US President, potentially driving swift regulatory developments across the Atlantic.
This global momentum intensifies the pressure on the Starmer administration to accelerate its regulatory initiatives and ensure the UK remains competitive in the rapidly evolving digital assets landscape.
