Nikhil Rathi was renamed as chief executive officer of the United Kingdom Financial Regulator, Financial Conduct Authority (FCA).
Rathi is the first CEO of the FCA to have granted an additional five years by the Treasury and will now have more time to execute its plans for the financial sector, including the crypto.
Under its direction, the FCA recorded 51 cryptographic companies under their money laundering rules. Some of these companies include crypto and investment companies Coinbase, Revolut, Etoro and, more recently, the largest manager of BlackRock assets.
“Rathi will direct the FCA as it continues to stimulate the reform to make the United Kingdom the best place to do business by removing unnecessary, obsolete and double – while ensuring that consumers are protected on Thursday and can be confident in the markets,” said the position by the Treasury on Thursday.
The FCA seeks to establish a new cryptographic regime with a new authorization process by 2026. It intends to have articles on stablecoins, trading platforms, stain, exposure to prudential cryptography and loans at the beginning of next year. The regime will be posted after the publication of final policy declarations in 2026.
