According to Odaily Planet Daily, the UK Financial Conduct Authority (FCA) has launched a public consultation aimed at improving cryptocurrency regulation. The FCA plans to develop a balanced framework to address challenges such as market abuse and financial fraud.
The FCA proposes to increase transparency, ensure fair trading and mandate cryptocurrency platforms to share information to prevent market abuse. The move is part of the UK government's strategy to establish a legal framework for cryptocurrencies.
The framework will cover trading activities, stablecoin regulation, etc., and it is expected that the draft regulations will be issued in 2025 and fully implemented in 2026. The public consultation will be carried out until March 14, 2025.