Britain's financial regulator said on Tuesday it would reduce its planned capital requirements for stablecoin issuers after industry pushback, as it unveiled regulations to bring the cryptoasset sector fully within its remit for the first time.
- The UK's Financial Conduct Authority (FCA) has finalized its crypto rulebook, significantly reducing planned capital requirements for stablecoin issuers from 2% to 1% after industry feedback.
- The revised regulations aim to create a proportionate regime to foster international competitiveness, with most stablecoins falling under FCA supervision, while systemic ones will be regulated by the Bank of England.
- The new regime, set to take effect in October 2027, also includes eased proposals on redemption times and public disclosures, though some issuers still find the 1% requirement challenging.
Topics: Legal regulatory, Jurisdictions, Asset types, Securities law classification, Established hubs, Stablecoins digital cash
Tags: #uk #stablecoin #capitalrequirements #fca #regulation #crypto #financialconductauthority #industrypushback #payments
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