Editor's PiCK
UK Financial Authorities to Implement Licensing System for Virtual Asset Companies from Next Year
Summary
- The UK Financial Conduct Authority announced plans to fully introduce a licensing system for virtual asset companies from 2026.
- The regulation is expected to expand to include stablecoins and staking services.
- Plans to prepare a draft of the related regulations and consult with the industry within this year were announced.
The UK Financial Conduct Authority (FCA) has announced plans to apply a licensing system to virtual asset (cryptocurrency) companies starting next year.
On the 28th, the virtual asset (cryptocurrency) specialized media CoinDesk reported, "The UK FCA plans to fully introduce a licensing system for cryptocurrency companies from 2026," adding, "It is expected to transition to a much stricter regulatory framework than currently."
Matthew Long, head of the FCA's Payments and Digital Assets division, stated, "We plan to introduce a new licensing system in 2026 and will prepare a draft of the related regulations and consult with the industry within this year."
The regulatory overhaul will also include stablecoins and staking services. Long added, "Staking, etc., will refer to existing traditional financial regulations but apply separate standards reflecting their unique characteristics."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
