FCA Re-Appoints Nikhil Rathi as CEO for Another 5 Years

Key Points:

• Nikhil Rathi has been reappointed as the Chief Executive Officer of the FCA by the UK government’s financial arm.

• During his tenure, the FCA has registered 51 crypto firms under its anti-money laundering regulations.

Nikhil Rathi has been re-appointed as the Chief Executive Officer of the UK's Financial Conduct Authority (FCA).

Rathi is the first FCA CEO to receive an additional five-year term from the Treasury, giving him more time to implement his plans for the financial sector, including the crypto space.

Under Rathi's leadership, the FCA has registered 51 crypto firms under its anti-money laundering regulations, including prominent companies such as Coinbase, Revolut, eToro, and recently, the world’s largest asset manager, BlackRock.

A statement from the Treasury on Thursday noted, "Rathi will continue to guide the FCA in driving reforms to make the UK the top destination for business by eliminating unnecessary, outdated, and redundant regulations, while ensuring consumer protection and maintaining market confidence."

The FCA is working toward creating a new crypto regulatory framework with a revamped authorization process, expected to roll out by 2026. It plans to release consultation papers next year covering topics like stablecoins, trading platforms, staking, prudential crypto exposure, and lending. The full regime will be implemented after the final policy statements are released in 2026.