UK FCA Eases Crypto Rules After Industry Pushback

The Financial Conduct Authority has softened parts of its cryptoasset regime, scaling back requirements that drew criticism from the sector, the Financial Times reported.

The changes include relaxed thresholds and simpler reporting for some crypto activities. The regulator said the adjustments followed consultations with market participants.

The FCA's goal is to balance investor protection with keeping crypto firms in the UK rather than pushing them offshore, the report said.

Bitcoin and other major cryptocurrencies traded in a narrow range after the announcement, with no immediate price reaction.

The updated rules are expected to take effect in the coming months.