FCA Calls for Public and Industry Feedback on Cryptocurrency Regulations in the UK

The Financial Conduct Authority (FCA) in the U.K. has issued a discussion paper seeking opinions on themes such as intermediaries, staking, lending, borrowing, and decentralized finance (DeFi).

This initiative comes on the heels of draft legislation from the Treasury, announced earlier this week. The impending law, once enacted, will subject certain cryptocurrency activities to FCA oversight.

David Geale, the executive director of payments and digital finance at the FCA, expressed that as the crypto sector continues to expand and remains largely unregulated, there is a need to establish a framework that offers clarity for businesses to innovate responsibly while ensuring market integrity and protecting consumers.