In a move to strengthen its regulatory oversight of the cryptocurrency and digital assets sector, the UK's Financial Conduct Authority (FCA) has appointed Sarah Pritchard as its first deputy chief executive. This new role reflects the FCA's expanding responsibilities, including the regulation of stablecoin and crypto firms, as well as 'buy now, pay later' activities.
The FCA aims to create a more comprehensive regulatory environment, with plans to authorize crypto firms in a similar manner to traditional financial institutions by 2026. Pritchard's role will have an international focus, and she will work closely with CEO Nikhil Rathi and executive director David Geale to develop and implement regulatory frameworks for the sector. With her previous experience as an executive director, overseeing supervision and policy, Pritchard is well-positioned to help the FCA achieve its goals. The appointment is part of the FCA's efforts to engage with the crypto industry and establish a robust regulatory regime, with the goal of providing clarity and certainty for businesses and consumers alike.