As a seasoned researcher with a keen eye for regulatory affairs, I find myself deeply intrigued by the enigmatic figure of Matthew Long, the FCA’s director of payments and digital assets. His unwavering commitment to maintaining a robust regulatory environment for cryptocurrencies is commendable, particularly in light of the global surge in interest in this dynamic sector.
If the Financial Conduct Authority (FCA) serves as the entrance for cryptocurrency companies to conduct business within the U.K., then Matthew Long plays a pivotal role, given his position as the FCA’s director of payments and digital assets. Under his watch, these firms are subjected to a rigorous set of rules, particularly those relating to anti-money laundering, which has led to just four crypto companies being authorized to operate in 2024. To date, out of the total 365 applicants, only 48 have been granted approval.
The regulatory authority’s influence is poised to grow further. In fact, Long, who heads policy creation in the cryptocurrency field, recently organized a series of discussions this year about the upcoming U.K. crypto regulations. Moreover, the Financial Conduct Authority has announced plans to publish several reports to gather opinions from the industry regarding stablecoins, trading platforms, staking, and other related topics. Their ultimate goal is to establish definitive rules for the sector by 2026.
In simpler terms, “Long is planning to construct a larger gate with extended permissions and a fresh authorization system, causing the industry to speculate whether or not they’ll gain entry.
This profile belongs to our selection for the CoinDesk’s Most Influential 2024 list. To view all the nominees from this year, please click here [UPDATE BEFORE PUBLISHING]. (Paraphrased)
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2024-12-10 18:16