Share this article
UK Banking Regulator to Propose Rules on Issuing, Holding Crypto
The U.K. government recently released a consultation on regulating the industry and a potential central bank digital currency.
Updated Feb 28, 2023, 8:50 a.m. Published Feb 27, 2023, 5:23 p.m.
The Prudential Regulation Authority (PRA), which regulates banks in the U.K., is planning to propose rules on issuing and holding digital assets, Vicky Saporta, executive director of prudential policy at the Bank of England, said in a speech Monday.
The country is trying to firm up its approach on crypto, including stablecoins and other digital settlement assets that could pose a risk to financial stability. Once the Financial Services and Markets Bill becomes law, authorities will have powers to regulate the sector. The U.K. government is currently consulting on its regulatory approach.
STORY CONTINUES BELOW
New standards for PRA-regulated firms will be coherent with rules for other sectors, according to a footnote accompanying the text of the speech. The Basel Committee on Banking Supervision, the banking industry's global regulator, published a standard on how banks should treat crypto exposure in December.
CORRECTION (Feb. 27 17:30 UTC): Corrects the dek to say the U.K. government released the consultation, not the banking regulator.
CORRECTION (Feb. 28 08:50 UTC): Corrects the name of Prudential Regulation Authority in opening paragraph.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
CFTC Gives No-Action Leeway to Polymarket, Gemini, PredictIt, LedgerX Over Data Rules
The CFTC granted the operators of Polymarket, PredictIt, Gemini and LedgerX permission to skip certain recordkeeping requirements.
What to know:
- The Commodity Futures Trading Commission granted several prediction-market firms certain regulatory leeway in meeting derivatives rules, suggesting they won't get into enforcement trouble if they do business as intended.
- The no-action letters went to Polymarket, PredictIt, Gemini and LedgerX/MIAX.
Top Stories
