UK Proposes New Crypto Rules to Match Finance Standards
The UK’s Financial Conduct Authority (FCA) has shared new plans to bring crypto firms in line with some of the same rules that apply to banks and other financial companies. The move is meant to place digital asset businesses under similar oversight as the rest of the finance sector.
David Geale, who leads the FCA’s digital finance division, said the goal is to create “a sustainable and competitive crypto sector” while still protecting the public. He explained that even with regulation, risks won’t disappear, but clear standards can help people know what to expect from crypto companies.
The new rules would cover how firms run their systems, manage risks, and stop illegal activity. Most of these rules already apply to banks and payment firms. But crypto presents new challenges, such as handling digital wallets and how to keep platforms secure. These areas are also part of the consultation.
The FCA is also asking if crypto companies should meet the same customer protection standards as banks. These rules, called the Consumer Duty, make firms responsible for ensuring their services treat customers fairly.
Another area the FCA wants feedback on is how complaints are handled. It’s considering whether people should be able to bring crypto-related issues to the Financial Ombudsman Service — the same body that handles complaints in banking and insurance.
The regulator is gathering responses through October and November. Final decisions and rules are expected in 2026.
New SEC Policy May Open Doors for Crypto ETFs
In the US, the Securities and Exchange Commission is preparing a rule update that may simplify how crypto investment funds get approved. Instead of reviewing each one separately, the new approach would let crypto ETFs follow the same standard process used by other funds.
Bitwise’s Chief Investment Officer Matt Hougan said this change could lead to a wave of new crypto ETFs. “The adoption of generic listing standards — which could come as early as October — will likely usher in a ton of new crypto ETPs,” he said.
However, Hougan warned that just having an ETF doesn’t guarantee it will attract investment. “You need fundamental interest in the underlying asset,” he said, pointing to coins like Bitcoin Cash that may not have strong demand.
Right now, ETF issuers must submit detailed filings and wait months for approval. The new system would shorten that process, letting more products reach the market faster — as long as they meet basic requirements on things like price stability and trading volume.
Google Builds Payment Protocol That Supports Stablecoins
Google has rolled out a new tool that allows software programs to send and receive payments. This includes support for digital dollars, known as stablecoins. The tool is open-source, meaning other companies can use and build on it.
The project was built with help from Coinbase, Salesforce, American Express, and over 60 other partners. Coinbase engineer Erik Reppel explained the goal: “We’re all working to figure out how to make AI transmit value to each other.” Google’s James Tromans confirmed that the system supports both bank payments and blockchain-based payments.
This payment system builds on something Google launched in April, called Agent2Agent Protocol. That system helps software bots work together and make decisions on their own. More than 50 companies are already using it, including PayPal, SAP, and Deloitte.
The use of automated programs to handle financial tasks is growing. Developers are now trying to connect these systems with blockchain tools to allow for real-time payments, trading, and other services — all without human input.
This may open up new ways to handle digital payments and speed up how money moves. The tools are still being built, but efforts like Google’s are laying a foundation that could be used by both tech companies and financial firms in the near future.
