UK Regulator Softens Landmark Crypto Rules in New Policy Adjustment
Importance High
The UK’s Financial Conduct Authority (FCA) has eased elements of its landmark cryptocurrency rules following extensive industry consultation, according to a report in the Financial Times. The adjustments aim to reduce compliance burdens while maintaining investor protection. Key modifications include relaxed thresholds and streamlined reporting obligations for specific crypto activities. Industry observers view the move as a pragmatic step to prevent overly burdensome rules from driving business offshore. The updated framework is expected to take effect in the coming months. Major cryptocurrencies like Bitcoin traded in a narrow range after the announcement, with limited immediate price reaction.