Nikhil Rathi has been re-appointed as the Chief Executive Officer of the UK’s financial regulatory body, the Financial Conduct Authority (FCA).
Rathi stands out as the first CEO of the FCA to receive an additional five-year term from the Treasury, allowing him ample opportunity to implement his strategies for the financial industry, including aspects related to cryptocurrency.
During his tenure, the FCA has registered 51 crypto firms adhering to money laundering regulations. Notable among these are well-known companies like Coinbase, Revolut, eToro, and recently the largest asset manager, BlackRock.
According to statements from the Treasury, “Rathi will guide the FCA in its mission to reform the UK’s business environment by eliminating unnecessary, outdated, and redundant regulations while ensuring consumer protection and confidence in the markets.”
The FCA is planning to create a new regulatory framework for cryptocurrencies, with a fresh authorization process expected by 2026. It aims to release documentation covering stablecoins, trading platforms, staking, prudent crypto exposure, and lending by early next year, with the new regime taking effect following the final policy statements in 2026.