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By Camomile Shumba|Edited by Parikshit Mishra
Apr 10, 2025, 12:01 p.m.
- Nikhil Rathi, has been reappointed by the U.K. government’s financial arm as Chief Executive Officer of the FCA.
- Under his leadership, the FCA has registered 51 crypto firms under their money laundering rules.
Nikhil Rathi, has been re-appointed as the Chief Executive Officer of UK’s financial regulator, Financial Conduct Authority (FCA).
Rathi is the first FCA CEO to be granted another five years by the Treasury and will now have more time to execute his plans for the financial sector, including crypto.
STORY CONTINUES BELOW
Under his leadership, the FCA has registered 51 crypto firms under their money laundering rules. Some of those firms include the likes of crypto and investment companies Coinbase, Revolut, eToro and most recently the largest asset manager BlackRock.
“Rathi will lead the FCA as it continues to drive reform to make the U.K. the best place to do business by removing unnecessary, outdated and duplicate regulations – whilst ensuring consumers are protected from detriment and can be confident in markets,” the post by the Treasury said on Thursday.
The FCA is looking to establish a new crypto regime with a fresh authorization process by 2026. It intends to have papers on stablecoins, trading platforms, staking, prudential crypto exposure and lending by early next year. The regime will go live after the final policy statements are published in 2026.
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.
Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.
