United Kingdom opens public consultation to regulate stablcoins and crypto services custody

The British financial regulatory entity proposes clear rules for stablecoins and custodians crypto. The deadline for sending comments expires on July 31.

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• The proposal, presented by the FCA, seeking balance between innovation and consumer protection.
  
• Greater transparency will be required on support assets.
  
• The public consultation will be open until mid -2025.

The United Kingdom Financial Behavior Authority (FCA)main regulator of values ​​at the local level, has taken a new step towards establishing standards for the crypto sector, by publishing this May 28 a set of proposals aimed at guiding Stablecoins the companies that provide cryptoactive custody services.

The announcement, reviewed by various media, is part of a broader strategy of the British government to consolidate a clear and robust legal framework for the crypto sector, with the intention of positioning the United Kingdom as a competitive and reliable financial center in this emerging field.

A route to regulated trust

The measures proposed by the FCA They are described as “A new milestone on the way to crypto regulation”and are based on multiple rounds of consultation and interaction with actors in the sector.

David Geale, Executive Director of Digital Payments and Finance of the Agency, stressed that the objective is to promote innovation without sacrificing market confidence:

“We want to support a sector that facilitates innovation, but is also based on market integrity and trust,” He explained in the statement.

Among the proposed changes, Specific requirements for Stablecoins emitters are included, such as detailed in a transparent way how their assets are supported and how they are managed. At the same time, custody suppliers must demonstrate that consumer funds are safe and available at all times.

These measures aim to minimize the risks derived from possible business bankruptcies and to ensure that the benefits of stablecoins, especially their efficiency for cross -border payments, can materialize without compromising stability.

Coordination with him Central Bank British

The FCA He is not acting alone. He Bank of England It also actively participates in the development of the regulatory regime for Stablecoins, especially for those that can reach a systemic scale.

Sarah Breeden, vice governor of financial stability of the institution, indicated that at the end of this year a complementary document will be published with a large -scale stable focus.

“We will respond to the feedback of the industry, including the possibility of allowing certain returns on backup assets,” commented.

Both agencies are working together to ensure a fluid transition within the new regulatory regime and preserve the integrity of the British financial system against these new instruments.

Crypto sector concerns

Although the United Kingdom advances in establishing clear rules, some voices of the industry have expressed concern about the rhythm of the process and the lack of concrete definitions.

Since April, the FINANCIAL POLICY COMMITTEE (FPC) It warns about the systemic risks that could arise from the rapid growth of non -backed cryptoactives and stablecoins with little liquid reserves. It was pointed out that, If it is not properly managed, the expansion of tokens linked to the pound issued from abroad could destabilize the local financial market.

For its part, executives of companies such as Ripple, Coinbase and Clearbank They alerted about the risk that crypto innovation migrates to more agile jurisdictions. In recent statements, they argued that delays in licenses and normative ambiguities are braking both the launch of products and the arrival of investments.

Consultation process and next steps

The public consultation will be open until July 31, 2025. During this period, It is expected that firms in the sector, legal experts, academics and consumers send comments and suggestions on the proposed rules.

It is anticipated that the final version of the regulatory framework will be published in 2026, with possible adjustments based on the feedback received. It is also projected that the regime for stablcoins will eventually integrate into the innovation service of the FCA, which would allow companies to experiment with this type of assets in a supervised environment.

With this movement, the United Kingdom is positioned in a crossroads: or consolidates its role as a crypto regulatory leader, or risks to be lagging behind countries with more defined and agile policies.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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