Sarah Pritchard, executive director of the UK Financial Conduct Authority (FCA), said at the London City Week meeting that it plans to strengthen the supervision of encryption marketing. The rules will be announced after the legislation is proposed. Once the government legislates, the company will have 4 months to rectify. In addition, the FCA has been working closely with the government to develop proposals to regulate stablecoins that can be used for payments, and to conduct consultations on the regulation of the broader crypto asset regime, and the public can comment until April 30. In the future, the Ministry of Finance may also decide to introduce a reciprocal registration system for overseas encryption companies.

Sarah Pritchard said that she hopes to obtain the opinions of the industry to ensure that the correct regulatory system for encrypted assets is established.