The UK's Financial Conduct Authority (FCA) launched a public consultation on cryptocurrency regulation on December 16, 2024. The new framework aims to balance innovation development with risk control, with a focus on combating market manipulation, financial fraud and other issues. The FCA proposes to authorize trading platforms to share information on suspected market abuse and will restrict the operation of unregistered crypto businesses. The consultation period will last until March 14, 2025. The draft regulatory framework is expected to be released in 2025 and is planned to be fully implemented in 2026, covering areas such as trading activities, stablecoin regulation and asset custody.