FCA 的调查和路线图揭示了英国的加密货币监管前景

According to Tulip Siddiq, Economic Secretary to the Treasury, all cryptocurrency regulations will be implemented in one go by the Financial Conduct Authority (FCA). The FCA has outlined a roadmap for consultations.

美国财政部经济部长 Tulip Siddiq 表示，所有加密货币法规将由金融行为监管局 (FCA) 一次性实施。 FCA 概述了磋商路线图。

The United Kingdom has adopted a different approach to regulating cryptocurrencies, including stablecoins and staking, after a change in government leadership. Previously, there were expectations that stablecoin and staking regulations would have been implemented by now. The Labour government emphasizes innovation, so the timing for implementing stablecoin regulation has become secondary.

在政府领导层发生变化后，英国采取了不同的方法来监管加密货币，包括稳定币和质押。此前，人们预计稳定币和质押监管现在已经实施。工党政府强调创新，因此实施稳定币监管的时机已成为次要的。

FCA's Roadmap and Consultation Plan

FCA 的路线图和咨询计划

The FCA has clarified its regulatory approach toward the crypto industry. The legislation is expected to be finalized by 2026, toward the end of the year. The comprehensive regulatory overhaul will involve multiple stages of consultation.

FCA 明确了其对加密货币行业的监管方式。该立法预计将于 2026 年年底完成。全面的监管改革将涉及多个阶段的咨询。

As part of the roadmap, the FCA is preparing initial discussion papers on crucial issues such as admission standards, disclosures, and market abuse. These papers are expected to be released within the quarter, and formal consultations are scheduled for the third quarter of 2025.

作为路线图的一部分，FCA 正在准备有关准入标准、披露和市场滥用等关键问题的初步讨论文件。这些文件预计将在本季度内发布，正式磋商定于 2025 年第三季度进行。

The FCA has divided the consultations into four key areas:

FCA 将磋商分为四个关键领域：

Trading platforms, intermediation, lending, staking, and prudential exposures
Stablecoins, custody, and prudential standards
Conduct and firm standards for regulated activities
Market behavior and disclosures related to decentralized projects

The decentralized nature of the crypto industry poses challenges for the FCA. For example, it can be difficult to obtain data from decentralized issuers. The FCA has proposed that exchanges could play a role by providing information based on publicly available data. This would encourage decentralized projects to make their data more accessible, as exchanges would want to list more projects while keeping their workload manageable.

交易平台、中介、借贷、质押和审慎风险稳定币、托管和审慎标准受监管活动的行为和严格标准与去中心化项目相关的市场行为和披露加密行业的去中心化性质给 FCA 带来了挑战。例如，从分散的发行人那里获取数据可能很困难。 FCA 提议交易所可以通过提供基于公开数据的信息来发挥作用。这将鼓励去中心化项目使其数据更易于访问，因为交易所希望列出更多项目，同时保持其工作量可控。

Crypto Ownership and Awareness in the UK

英国的加密货币所有权和意识

The latest YouGov survey indicates that the number of cryptocurrency holders in the UK continues to rise. In 2023, 12% of UK adults reported holding cryptocurrency, up from 10% in 2022. The average investment per holder also increased from £1,595 to £1,842. This growth shows increased crypto awareness, as 93% of respondents reported being familiar with cryptocurrency, up from 91% the previous year.

最新的 YouGov 调查显示，英国的加密货币持有者数量持续增加。 2023 年，12% 的英国成年人持有加密货币，高于 2022 年的 10%。每个持有者的平均投资也从 1,595 英镑增加到 1,842 英镑。这一增长表明加密货币意识有所提高，93% 的受访者表示熟悉加密货币，高于去年的 91%。

Bitcoin remains the most widely known cryptocurrency, with 78% awareness. Ethereum is second at 31%, followed by Dogecoin at 30%. Lesser-known coins like Solana and TRON are also recognized by 11% and 10% of respondents, respectively. Among crypto holders, Ethereum and Dogecoin are nearly as well known as Bitcoin, indicating their growing popularity.

比特币仍然是最广为人知的加密货币，认知度为 78%。以太坊位居第二，占 31%，其次是狗狗币，占 30%。 Solana 和 TRON 等不太知名的代币也分别得到 11% 和 10% 的受访者认可。在加密货币持有者中，以太坊和狗狗币几乎与比特币一样出名，这表明它们越来越受欢迎。

Despite increased ownership, misconceptions about crypto regulation persist. Research shows that one-third of crypto owners are unaware that it is not regulated. This means that they cannot file a complaint with the FCA regarding unregulated crypto investments, and any losses incurred are not recoverable.

尽管所有权有所增加，但对加密货币监管的误解仍然存在。研究表明，三分之一的加密货币所有者不知道它不受监管。这意味着他们无法就不受监管的加密货币投资向 FCA 提出投诉，并且造成的任何损失都无法挽回。

The Impact of Crypto Advertising

加密货币广告的影响

The role of advertising in crypto adoption is mixed. While 60% of respondents said that advertising did not influence their investment decisions, a small percentage of those exposed to crypto ads took action. For example, 2% of respondents who had not considered buying crypto decided to invest after seeing an advert, and 10% of those considering crypto made a purchase. However, the advertisements also deterred 9% of the respondents from investing.

广告在加密货币采用中的作用是复杂的。虽然 60% 的受访者表示广告不会影响他们的投资决策，但接触加密广告的一小部分人采取了行动。例如，2% 没有考虑过购买加密货币的受访者在看到广告后决定投资，10% 考虑加密货币的受访者进行了购买。然而，广告也阻止了 9% 的受访者投资。

Despite growing interest and aggressive marketing efforts, crypto remains a high-risk investment in the UK. The lack of regulatory oversight means that investors are not protected if things go wrong. They should be aware that they could lose their entire investment.

尽管人们对加密货币的兴趣日益浓厚并且营销力度不断加大，但加密货币在英国仍然是一项高风险投资。缺乏监管意味着如果出现问题，投资者将得不到保护。他们应该意识到他们可能会损失全部投资。

Matthew Long, the FCA's director of payments and digital assets, said that clear rules are necessary to make the crypto sector safe, competitive, and sustainable. He stated that the FCA would collaborate with the UK government, international partners, industry players, and consumers to ensure that the rules are well-crafted to support innovation while maintaining market integrity and consumer trust.

FCA 支付和数字资产主管 Matthew Long 表示，为了使加密行业安全、有竞争力和可持续发展，必须制定明确的规则。他表示，FCA 将与英国政府、国际合作伙伴、行业参与者和消费者合作，确保精心制定规则来支持创新，同时维护市场诚信和消费者信任。

As the FCA continues to shape the future of crypto regulation in the UK, the industry is closely following the government's steps toward implementing a robust framework by 2026.

随着 FCA 继续塑造英国加密货币监管的未来，该行业正在密切关注政府在 2026 年之前实施稳健框架的步骤。