UK FCA Dey Talk Say Dem Go Make Strict Rules for Stablecoin And How Dem Go Keep Crypto Money So Market Go Better
Di UK, dem Financial Conduct Authority (FCA) don push for new rules wey go control stablecoin and how dem dey keep crypto. Dem don start to ask public for dia opinion on top draft guidelines wey dem bring out based on HM Treasury's plan. Di new rules, wey go affect both stablecoin people wey dey issue am and people wey dey keep digital assets, get some main points: you must get independent people wey go keep stablecoin money, you must keep 5% of money for immediate withdrawal, dem no go pay interest to people wey get am, and dem must refund your money within one working day. People wey dey keep am must get plenty money and cash, and dem must sabi how to do proper accounting. Both di people wey dey issue stablecoin and di people wey dey keep am must get approval from FCA based on Financial Services and Markets Act 2000. Di least money wey stablecoin issuers must get na £350,000, and for custodians na £150,000. Stablecoins wey important for di whole system go dey under Bank of England control, and dem go give more details later in 2025. Di public consultation go close July 31, 2025, and dem dey expect di final rules by 2026. All these proposals na to make di market strong, protect customers, and build a good and competitive digital assets market for UK. For crypto traders, these rules go make things clearer but e fit make compliance cost go up and bring some shakiness to the market for a while, especially as di sector dey try to adapt to di new tough rules and supervision.
Neutral
Di UK, FCA don bring new rules for stablecoin and how dem go keep am. Dis rules dey strict for people wey dey issue stablecoin and people wey dey keep am, all because dem wan make sure say market dey strong and dem dey protect customers. Even though dis clear rules fit make people trust the market for long time and make big big companies join, for now, e fit mean say crypto businesses go spend more money to follow the rules and dem go face some operational wahala. Before now, anytime dem bring new rules like dis, market go just dey confused small and people go dey trade carefully, but e no dey make price jump up unless dem come with serious punishment or ban wey nobody expect. Since dem never finish to discuss the rules, market go just dey wait and see. So, for now, the effect na neutral—e no mean say stablecoin go go up or down, or say UK crypto market go get better or worse, until dem finalize the rules and how dem go enforce am.