Last week, FCA Chief Data, Information, and Intelligence Officer Jessica Rusu delivered a speech on the regulation of digital assets. Delivered at the CityUK International Conference 2025, Rusu said the regulator is supporting growth via innovation while reducing regulatory burdens. She noted that entrepreneurs are “looking for predictability, regulatory certainty, and a pro-innovation environment.”
Rusu said that innovation in digital assets, payments, and stablecoins is moving at a “lightning pace,” noting that the US is now leading the way.
As for the UK, they are looking to pursue a balanced approach. Caution is needed due to rampant fraud in crypto while working with stakeholders domestically, while watching developments globally.
“We are acutely aware of the impact that good regulation can have on UK growth and competitiveness. As we work to support the Government’s growth mission, we will take a balanced and pragmatic approach. Pro-innovation and pro-growth. Predictable and stable for businesses, making it easier and more attractive to do business on our shores.”
Rusu mentioned the advancement of artificial intelligence (AI) and the growth of Open Banking. They have established an AI Lab to foster sector growth.
The UK leads in Europe when it comes to Fintech, as the UK is home to 3X the number of Fintechs when compared to either France or Germany.
The Fintech (Regulatory) Sandbox, first launched by the UK, is now said to have been replicated by more than 100 jurisdictions. This environment provides an opportunity for founders to learn from regulators in a safe environment while exposing regulators to risk-taking entrepreneurs.
While results will always speak louder than words, regulatory participation is crucial to supporting Fintech innovation in any jurisdiction.