British FCA starts consultation with new stable coin and crypto-custody rules: Public can bring their opinions by July 31, 2024-final regulations are expected for 2026.

British FCA starts consultation with new stable coin and crypto-custody rules: Public can bring their opinions by July 31, 2024-final regulations are expected for 2026.

UKS FCA is looking for public feedback on new rules for Stablecoins and crypto-custody

The United Kingdom Financial Conduct Authority (FCA) has announced a consultation on new regulations for stable coins and the custody of cryptocurrencies. This public feedback is possible until July 31, 2024 and is an important step in regulating the cryptocurrency market. The final regulations are expected to be published in 2026

The consultation aims to record the perspectives of the public, especially stakeholders from the financial industry and consumers. The FCA strives to create a set of rules that guarantees both the stability of the financial system and promotes innovations in the field of digital currencies.

stablecoins have become increasingly important in recent years because they are considered less volatile than other cryptocurrencies. Nevertheless, your commitment raises numerous questions regarding regulation and security. With this consultation, the FCA pursues the goal of finding a balanced relationship between supervision and innovation.

The implementation of clear guidelines for the custody of cryptocurrencies is of central importance to strengthen consumers and investors. The FCA would like to ensure that companies that keep crypto-assets keep appropriate security standards.

Consultation about stablecoins and crypto-custody is an important step in the further development of case law on digital currencies in the United Kingdom. All interested parties are invited to bring in their opinions and perspectives in order to create an effective and future -proof regulatory environment.