Golden Finance reported that the Financial Conduct Authority (FCA) of the United Kingdom announced an important personnel appointment on June 10th. Sarah Pritchard was officially appointed as the deputy chief executive officer. This position is newly established, aiming to respond to the continuous expansion of the FCA’s scope of authority, especially the strengthening of regulatory responsibilities for cryptocurrency companies.
As the core regulatory body of the UK’s financial services industry, the FCA has taken over the behavioral supervision and related prudential supervision functions of the former Financial Services Authority since its establishment on April 1, 2013. Its main goal is to ensure the integrity and fairness of the financial market, and to achieve this mission by protecting consumers’ rights and interests, maintaining the stability of the financial market and promoting market competition. In the past, the regulatory scope of the FCA widely covered traditional financial fields such as banking, insurance, and investment. With the rapid development of the cryptocurrency market worldwide, its regulatory responsibilities have also been expanded accordingly.
In the field of cryptocurrency regulation, the FCA has been very active. At the end of 2024, the British government reaffirmed its regulatory plan for crypto assets and adopted a more streamlined regulatory approach. In March this year, the FCA released a discussion paper on the regulatory vision for crypto assets in the UK. As part of the expansion of authority under the latest government regulatory framework, the FCA will focus on market transparency, access standards, and combating market abuse in the future. According to the proposed framework, the FCA will implement comprehensive regulation over cryptocurrency trading, stablecoins, intermediaries and custody services.
Sarah Pritchard’s appointment comes at a crucial time when the FCA is moving towards a new stage in the field of cryptocurrency regulation. Nikhil Rathi, the CEO of FCA, highly praised Pritchard in the statement, emphasizing that she has played a key role in integrating the supervisory, policy and competition functions of FCA and has demonstrated outstanding leadership skills in some high-profile work of FCA. In his new position, Pritchard is expected to play a significant role in managing the expanding authority of the FCA, especially in the regulatory affairs of cryptocurrencies, helping the FCA better address the new challenges and opportunities brought by the cryptocurrency market and maintain the stability and healthy development of the UK financial market.
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