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The British financial regulator (FCA) has launched a large-scale revision of the rules for the crypto market. Instead of the previous strict framework, they now want to give more freedom so that British crypto companies feel more confident on the global stage. The main thing is to find a balance: to support innovation and protect user rights.

According to the proposed innovations, the Financial Regulation and Supervision Authority (FCA) intends to clearly regulate the main areas of work with cryptocurrencies. It is planned to legalize the rules for handling stablecoins, the procedure for storing digital assets, the activities of crypto exchanges and mechanisms related to staking. This initiative is aimed at clarifying regulatory requirements and facilitating licensing procedures.

The authorities also give businesses two years to adapt. During this time, companies will be able to adjust their work to the new rules without haste and without stopping operations. During this time, companies will be able to continue fulfilling existing contracts.

At the same time, the supervisory authority is launching a series of consultations to improve the system for processing customer claims. The FCA is considering an option in which users can immediately send their complaints to the Financial Ombudsman Service (FOS), bypassing crypto companies, to resolve conflict situations.

The planned regulatory amendments show how the attitude of the British authorities towards the crypto market is changing. Instead of setting rigid limits, it is proposed to create an adaptive system that stimulates the development of new technologies, while not forgetting about consumer protection. This approach can significantly increase the attractiveness of the UK for the crypto business in the future.