Britain's Financial Conduct Authority (FCA) has unveiled plans to implement full regulatory rules on cryptocurrencies by 2026.
This initiative comes in response to the surging demand for digital assets like Bitcoin, which has seen a remarkable increase in value following Donald Trump's recent victory in the US presidential election.
Matthew Long, director of payments and digital assets at the FCA, emphasized the necessity for clear regulations, stating, “Our research results highlight the need for clear regulation that supports a safe, competitive and sustainable cryptocurrency sector in the UK.”
The FCA's roadmap includes consultations on cryptocurrency regulation, with final rules expected to be established by 2026.
Additionally, the FCA plans to introduce rules on stablecoins, digital currencies backed by traditional assets, early next year.
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