UK’s FCA Seeks Views on Stablecoins, Crypto Custody to Prevent Firm Failure
The U.K.’s Financial Conduct Authority (FCA) is seeking additional views on its upcoming stablecoins regime, it said on Wednesday.
“In support of the opportunities stablecoins present to financial services and the broader economy, the FCA will explore adding a specific focus on stablecoins to its innovation services in the coming months,” the FCA’s statement said.
The FCA’s proposed rules are meant to ensure stablecoins maintain their value and seek to reduce the likelihood of stablecoin and crypto custody companies failing.
Stablecoins have been something regulators have been watching carefully following the collapse of the algorithmic stablecoin terraUSD in 2022 that resulted in investors losing out on their life savings.
The FCA has been…
