UK Regulator Pokes the Crypto Bear: FCA Opens Public Consultation on Stablecoins & Custody Rules

London’s financial watchdog just tossed a regulatory grenade into the crypto sandbox—and everyone’s scrambling to grab shrapnel.

The ask:
The FCA wants your two cents (or two satoshis) on how to handle stablecoins and digital asset custody. No more ’move fast and break things’—now it’s ’consult slowly and write checks later.’

Why it matters:
This could set the tone for whether Britain becomes a crypto hub or just another compliance-obsessed backwater. Meanwhile, traditional banks are sweating over their soon-to-be-obsolete settlement systems.

The punchline:
After a decade of ignoring crypto, regulators now want ’public input’—translation: they need cover for decisions they’ve already made. Bonus jab: Nothing unites bureaucrats faster than the smell of taxable transactions.