Key facts
- The UK's Financial Conduct Authority (FCA) has started accepting applications from crypto companies.
- A new regulatory regime for crypto firms will take effect next year.
- This marks the first time the FCA will have full oversight of the crypto industry in the UK.
The Financial Conduct Authority (FCA) in the UK has initiated the process of accepting applications from cryptocurrency companies as it gears up to implement a comprehensive regulatory framework. This signifies a major step towards bringing the crypto sector under the direct supervision of the FCA for the first time. The new regime is scheduled to be enacted next year, aiming to enhance oversight and compliance within the industry.