The United Kingdom’s Financial Services Regulator, the Financial Behavior Authority (FCA), appointed an executive deputy director for the first time, appointing Sarah Pritchard to paper, since it seeks to strengthen its supervision of the cryptographic and digital asset industry.
“The new role has been created to reflect the expanding mandate of the FCA, with … regulation of Stablecoin and cryptography companies, as well as to buy now subsequent activities,” said the FCA on Tuesday.
The regulatory regime of the country follows that of the near European Union, which already has a valid transnational license framework with its markets in cryptographic asset regulations (MICA). The FCA, which currently certifies that companies in their cryptography register comply with the rules against money laundering, is in the process of creating a more complete regime for the sector. He said he plans to start authorizing cryptographic companies in the line of their approach to traditional financial companies by 2026.
Pritchard’s role will include an international element, said the FCA. “The international environment is complex, our mandate is growing and the expectations of us continue to evolve,” said Ashley Alder, president of the FCA.
Pritchard was previously executive director of the agency, helping with the supervision and supervision of policies. The FCA wants to work with the cryptographic industry to develop the regulation of the sector, he said last year. Since then, it has distributed a series of discussion documents on digital assets and Stablecoins for its regulatory program.
He will work with the CEO Nikhil Rathi, who was re -elected in April another five years, and David Geale, permanent executive director of Digital Payments and Finance.
