U.K. Financial Conduct Authority Appoints Sarah Pritchard as Deputy CEO to Oversee Crypto and Stablecoins

The Financial Conduct Authority (FCA) has named Sarah Pritchard as its first-ever deputy chief executive, signaling a heightened focus on regulating the crypto and digital assets industry. The newly created role reflects the FCA''s expanding mandate, which now includes oversight of stablecoins, crypto firms, and buy-now-pay-later activities.

While the U.K. lags behind the European Union''s established Markets in Crypto Assets (MiCA) framework, the FCA is developing a more comprehensive regulatory regime. The agency currently maintains a crypto register for anti-money laundering compliance but plans to implement full authorization processes for crypto firms by 2026, mirroring its approach to traditional financial institutions.

Pritchard''s appointment carries international significance as the FCA navigates an increasingly complex global regulatory landscape. The former executive director has previously expressed the agency''s intention to collaborate with industry participants in shaping future regulations.