The U.K. Financial Conduct Authority (FCA) plans to implement a comprehensive crypto regulatory regime by 2026, responding to a notable increase in crypto ownership among citizens. A recent report indicated a 4% growth in crypto asset ownership over the past two years, with approximately 7 million adults in the U.K. now holding digital currencies. The FCA aims to enhance transparency in the crypto market and intends to publish discussion papers concerning various topics, including market abuse, stablecoins, trading platforms, and crypto lending by early next year. These initiatives are part of the FCA's roadmap to engage the industry and produce final policy statements ahead of the regime's launch. This new regulatory framework is expected to follow the European Union's forthcoming Markets in Crypto Assets (MiCA) regulations, which will be effective by the end of 2024. Matthew Long, director of payments and digital assets at the FCA, stressed the importance of collaboration with government and industry stakeholders to develop effective regulations for the evolving crypto landscape.

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