UK's FCA announces comprehensive crypto regulations requiring capital reserves and stress testing
By
Kalyeena Makortoff
Summary
The UK's Financial Conduct Authority (FCA) has announced sweeping new regulations requiring crypto firms operating in the country to prove they can withstand market shocks and hold capital against risky assets. The rules, taking effect from October next year, will significantly increase oversight of the crypto industry, which has previously faced minimal regulation despite growing popularity driven by social media influencers and legitimization efforts under US President Donald Trump. FCA executive director David Geale stated this represents the first comprehensive regulatory framework for the sector.
Source
Twitter / XUK's FCA announces comprehensive crypto regulations requiring capital reserves and stress testingtheguardian.comKey quotes
· 2 pulledFor the first time, we've got a comprehensive regulatory framework
Crypto firms operating in the UK will be forced to prove they can weather market shocks and hold capital against risky assets
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