UK's Financial Watchdog Seeks Public Pulse on Stablecoin and Crypto Custody Rules

FCA Fires Up the Engines for Crypto Regulation

The Financial Conduct Authority (FCA), the UK's financial markets sheriff, is hitting the streets to gather your thoughts on their hot-off-the-press proposals for regulating stablecoins and crypto custody. They're not just sitting in their ivory towers; they want to hear from YOU!

Countdown to 2026: The Race to Finalize Crypto Laws

On May 28, the FCA dropped a bombshell press release as the UK gears up to lock down its crypto regulatory game plan by 2026. They're not messing around—they're pulling in feedback from every corner to shape those final rules. Get ready to have your say!

From Treasury Drafts to Public Feedback: The Clock is Ticking

Just weeks after the UK Treasury unleashed its draft legislation in April 2025, the FCA is stepping up. You've got until July 31, 2025, to throw your two cents into the ring. Don't miss your shot to influence the future of crypto in the UK!

Stablecoins: The Next Big Thing in Payments?

The FCA has been waving the flag for stablecoins, touting them as game-changers for payments and settlements. They're all about that efficiency and speed, but they're not letting the wild west run free. They're demanding clear info on reserve backing from issuers—no shady business here!

UK's Crypto Ambition: A Hub of Innovation

David Geale, the FCA's executive director for payments and digital finance, is all in on making the UK the epicenter of crypto innovation. He's backing stablecoins and crypto custody to the hilt, and he's not shy about it!

Balancing Act: Supporting Crypto While Keeping It Clean

Geale's not just throwing support around; he's also focused on keeping the crypto market clean. He's all about striking the perfect balance between fostering growth and maintaining that sacred market integrity and trust. It's a high-wire act, but he's up for the challenge!

Tag Team: FCA and Bank of England Join Forces

The FCA isn't going solo; they've got the Bank of England riding shotgun. Sarah Breeden, the Bank's deputy governor, is all smiles about the FCA's latest moves. She's promising a follow-up consultation paper later this year, especially for those big-shot stablecoins that could shake up the system. They're even toying with the idea of letting issuers earn some returns on their backing assets. It's getting real!

Calling All Players: From Issuers to Auditors, Your Voice Matters

This isn't just for the big dogs. The FCA's consultation is wide open to everyone from stablecoin issuers eyeing the UK market to payment providers, crypto custody platforms, and industry groups. Law firms, auditors, professional advisers, and consumer interest groups—everyone's invited to the party. Don't sit on the sidelines; get in the game and help shape the future of crypto in the UK!