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Cryptocurrency regulations are being eased in the United Kingdom.
In the United Kingdom, which is one of the countries with the strictest crypto regulations in the world, and where even crypto advertisements are banned in public spaces, it seems that some regulations are now intended to be softened. The FCA, the country's financial regulator, has published a series of rules related to the issue.
Not final rules
However, these rules do not represent the final regulations and only serve as a "consultation document." These rules can be updated based on feedback from industry participants.
"Copy-paste won't work"
Speaking to the Financial Times from the British media regarding the issue, FCA’s Director of Payments and Digital Finance David Geale stated that traditional financial regulations cannot be simply adapted to crypto using a 'copy-paste' method and expressed the following:
"The crypto world stands out with its technology. Therefore, it is difficult to apply the same rules brought by the traditional world. If the same risks exist, the same regulations can be applied. However, the structure and technology of cryptocurrencies are different. For this reason, different rules are needed. We cannot apply the same rules with a copy-paste approach. Risks are now very different..."
According to the consultation document published by the FCA; crypto companies will be exempt from some traditional financial rules. For example, crypto companies will be subject to lighter managerial, system, and control standards compared to banks and investment firms. The reason given for this is that cryptocurrencies do not "create a systematic risk."
Additionally, due to the permissionless and decentralized nature of blockchain technology, this area will not be considered outsourcing. Thus, companies will not be imposed additional risk management and product oversight obligations.
They cited Bybit as an example
Despite these rules, the FCA is considering tightening regulations in some areas. In particular, crypto companies will be required to establish robust systems against operational risks such as cyber attacks and IT failures. The FCA cited the incident this year where $1.5 billion worth of assets were stolen from Bybit’s wallet provider as an example of the necessity for this step.
Published: September 17, 2025 16:15Last Updated: September 17, 2025 16:20