The UK’s Financial Conduct Authority (FCA) has unveiled a discussion paper seeking public feedback to shape its crypto regulations. The initiative aims to address regulatory gaps, ensuring market integrity and consumer protection as the UK crypto industry expands rapidly. This approach is in line with the growing trend of regulatory measures for the cryptocurrency sector in the country. 🎤 The FCA’s move impacts exchanges, lending services, and DeFi platforms, addressing the 12% increase in crypto ownership in the UK. Matthew Long, Director of Payments and Digital Assets at the FCA, emphasizes the need for clear regulations that foster a safe, competitive, and sustainable crypto sector while supporting innovation. 💡 The FCA is seeking input on key aspects like intermediaries, staking, and decentralized finance before finalizing rules. This proactive approach reflects a shift towards more holistic oversight compared to past actions such as the October 2023 cryptoasset promotions scrutiny. The industry anticipates collaborative efforts in shaping future regulations with historical data suggesting potential for enhanced industry standards.