UK FCA considers waiving some TradFi rules for crypto companies
The UK’s Financial Conduct Authority seeks comments on whether Consumer Duty, a rule requiring companies to deliver good consumer outcomes, should apply to crypto.
The United Kingdom’s top financial regulator has outlined new proposals for how existing financial rules should apply to cryptocurrency, marking the next step in creating a regulatory framework for the sector.
The Financial Conduct Authority (FCA) published a consultation paper on Wednesday, setting out minimum standards that crypto companies must meet once the industry is formally brought under its remit. The regulator said the rules are designed to balance innovation and competitiveness with protections for consumers and market integrity.
“We want to develop a sustainable and competitive crypto sector, balancing innovation, market integrity and trust,” said David Geale, executive director of payments and digital finance.