The UK's Financial Conduct Authority (FCA) has unveiled its final cryptocurrency framework for digital asset regulation, receiving positive feedback from the local industry, CoinDesk reported. The outlet explained, "The new regulatory proposal allows access to global liquidity through overseas exchanges and permits the circulation of stablecoins issued outside the UK. However, regarding the authorization criteria for overseas branches, it only presented the principle of 'countries with equivalent regulatory systems' without specifying which countries fall under this category. Consequently, the industry points out a lack of predictability and clarity in the regulations for developing business plans. Furthermore, the licensing and authorization procedures under the new system are also expected to pose a significant burden on businesses."
