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LONDON, Dec 16 (Reuters) - British regulator the Financial Conduct Authority (FCA) launched a wide-ranging consultation on a range of proposed rules for the crypto industry on Tuesday, a day after the government said the industry would be regulated from October 2027.
The FCA set out its proposals alongside research that shows that the proportion of UK adults holding crypto has fallen by a third, from 12% to 8% in the past year. Watchdogs globally are playing catch-up on rules for the crypto industry, with Britain seeking to align its regulation with the U.S. rather than the European Union.
The FCA said on Tuesday that its rules would cover listings for crypto assets, measures to stop insider trading and manipulation, standards for crypto trading platforms and rules for brokers.
It is also consulting on prudential requirements, regulations to make the risks clearer on crypto staking, better protections for crypto lenders and borrowers and potential financial safeguards for crypto firms to manage risks. Regulation is coming – and we want to get it right. We’ve listened to feedback, and now we’re setting out our proposals for the UK’s crypto regime," said David Geale, executive director for payments and digital finance at the FCA.
"Our goal is to have a regime that protects consumers, supports innovation and promotes trust. We welcome feedback to help us finalise these rules."
The FCA is seeking feedback on its proposals before a February 12, 2026, deadline. The regulator has promised to finalise the regime by the end of next year. $EPIC
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Crypto News: Pakistan has established the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee the country's digital asset industry.
The new body will operate independently, focusing on licensing, monitoring and supervising virtual asset service providers.
PVARA aims to ensure compliance with international standards, including guidelines from the Financial Action Task Force (FATF).
Finance Minister Muhammad Aurangzeb has stated Pakistan "must regulate not just to catch up, but to lead" in creating a future-ready framework.
The move comes despite recent setbacks, including the IMF rejecting Pakistan's proposal to offer subsidized power for Bitcoin mining operations.
Pakistan had previously earmarked 2,000 megawatts of surplus electricity for BTC mining and AI centers as part of its broader digital finance strategy.
The regulatory framework positions Pakistan among the first South Asian nations to establish dedicated crypto oversight while maintaining its mining ambitions.
Minister Bilal Bin Saqib recently met with Trump administration officials to discuss cooperation on crypto initiatives and potential $BTC reserve strategies. $LONG
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