The UK Financial Conduct Authority (FCA) announced today the creation of a specialised cohort for stablecoin issuers within its Regulatory Sandbox. According to David Geale, the FCA’s executive director for payments and digital finance, the programme will allow firms to test tokens pegged to currencies such as the British pound and the US dollar under the country’s evolving regulatory framework.
The initiative aims to support agile policymaking and provide the regulator with practical insights into the real-world use of these assets. The announcement follows previous FCA consultations on the tokenisation of the UK’s nearly $19 trillion asset management industry, as well as its recent open call for feedback on how crypto companies should be supervised in the country.
Geale noted that a “major firm” has already been accepted to test a pound-backed stablecoin in the coming months. In addition, the FCA confirmed that Eunice has joined the Sandbox to explore disclosure templates designed to strengthen transparency for investors in crypto products.
Source: Financial Conduct Authority (FCA)
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