Regulatory authorities in the United Kingdom are moving to throw their reputation for slow crypto supervision, now welcomes companies with a faster, clearer registration process.
Summary
- The FCA of the UK has accelerated its crypto registration process, making approvals faster and more accessible.
- The approval rates have risen considerably, whereby large companies such as BlackRock and Standard Chartered have reportedly received approval under the updated process.
- The FCA is also consultation with a complete regulatory framework that would bring crypto companies under rules at bank level.
- British officials strive for closer ties with American regulators to support the supervision of the Stablecoin and to enable smoother access to international capital markets.
The Financial Conduct Authority (FCA) of the UK speeds up its registration process for cryptoma tires after criticism in the industry that approvals arose for more than a year. According to a financial time of September 22 reportApplications that are on average 17 months are now usually treated in just over five months.
The approval rates have also risen considerably since April and reached around 45% compared to less than 15% in the previous five years. The regulatory body has also increased the workforce, introduced preliminary meetings and offered clearer guidance to streamline assessments.
Although the total number of applications has decreased over the years due to past delays, a rebound in successful registrations have seen in recent months, whereby large companies such as BlackRock and Standard Chartered are reportedly approval to operate in the country.
The agency has also extended its outreach to applicants, offering pre-approval meetings and hosting round tables and webinars to clarify the requirements. FCA executive director for payments and digital financing David GEALE reportedly stated that these efforts have improved the quality of the applications and have helped to accelerate authorizations, all without reducing the standards of the committee.
VK lays the foundation for full crypto regulation and American coordination
The recent acceleration of the FCA in approvals is part of a broader effort to embrace the crypto industry and to strengthen the position of the UK on the world market. The Agency recently opened a consultation to bring crypto-asset companies under fully regulatory supervision by 2026, aimed at improving supervision and setting up a clear operational framework.
According to the proposal, crypto companies would be subject to senior managers and the certification regime, the standards for operational resolience and strict rules for financial crime that is applied to banks and brokers for a long time. This is intended to ensure that service providers work safely and fairly, while making them responsible for customers and offering clearer ways to resolve legal disputes.
This builds on the draft legislation that was introduced by HM Treasury earlier this year, which would give the FCA authority on trading platforms, guardianship services and deployment activities.
In addition to domestic reforms, the United Kingdom also works to deepen the coordination of regulations with the United States. Recent discussions at a high level between the British Chancellor Rachel Rachel Reeves and the American Minister of Finance Scott Bessent Investigations reportedly Shared Supervision of Stablecoins, joint regulatory sandboxes and measures to give British crypto companies more flexible access to American capital markets.
The continuous efforts emphasize the wider strategy of the FCA to strengthen the local British crypto market and to ensure that London remains a leading global hub for industry.
