The British regulator for financial services, Financial Conduct Authority (FCA), appointed a Deputy CEO for the first time and named Sarah Pritchard for the role as it appears to strengthen its oversight of Crypto and Digital Assets Industry.
“The new role has been set up to reflect FCA’s expanding transfer resistance with … Regulation of stablecoin and crypto companies as well as buying now paying later activities,” FCA said Tuesday.
The country’s legislative regime tracks come from the nearby EU, which already has a transnational license frame in place with its markets in Crypto Assets (MICA) rules. FCA, which is currently certified that companies on its crypto register comply with the rules against money laundering, are in the process of creating a more comprehensive regime for the sector. It has said that it is planning to start approving cryptic companies towards its approach to traditional funding companies in 2026.
Pritchard’s role will include an international element, FCA said. “The international environment is complex, our transfer is growing, and expectations for us continue to evolve,” said Ashley Age, president of FCA.
Pritchard was previously a CEO of the Agency and helped with supervision and political supervision. FCA wants to collaborate with the crypto industry to develop regulation for the sector, she said last year. Since then, it has circulated a number of discussion papers about digital assets and stableecoins for its regulatory program.
She will work with CEO Nikhil Rathi, who was re -appointed in April another five years, and David Geal, a permanent CEO of payments and digital financing.
