IIF calls for global co-operation on crypto regulation

The Institute of International Finance (IIF) has urged the FCA to co-ordinate with other jurisdictions on cryptoasset regulation.

In a response to the FCA’s two consultation papers on stablecoin issuance and cryptoasset custody, and a prudential regime for cryptoasset firms, the IIF welcomed the establishment of a UK cryptoasset roadmap.

“We consider these consultations to be both timely and constructive,” the authors said.

“We support the regulatory objectives of consumer protection and financial stability being pursued and would also emphasise the need to ensure coordination across jurisdictions, in a time of changing dynamics around cryptoassets regulation.”

As the government plans to create a UK financial services regulatory regime for cryptoassets, the IIF agrees 2026 would be an appropriate timeframe for implementation and said it “stands ready with its members to engage further on these important topics”.

The FCA’s consultation papers closed on 31 July.