UK Sets Landmark Crypto Rules to Cement Its Global Hub Status

The UK's Financial Conduct Authority (FCA) has set landmark rules for the crypto industry to establish the country as a global hub. The new framework requires firms supporting people to buy, trade, and hold cryptocurrencies to meet clear standards.

Firms must demonstrate financial resilience, including capital and stress testing. The FCA is also introducing market integrity rules to prevent insider trading and manipulation. Stablecoins will be subject to strong and transparent standards to build trust in their use.

David Geale, executive director of payments and digital finance at the FCA, said: 'This is a significant moment for crypto regulation in the UK.' The new regime aims to provide regulatory certainty while allowing innovation. For consumers, firms will be held to similar standards as other financial providers.