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U.K. Regulator Names Sarah Pritchard as Deputy CEO to Help Oversee Crypto, Stablecoins
Pritchard's elevation is a sign of the FCA's focus on developing a comprehensive regulatory environment for the industry.
Jun 10, 2025, 4:30 p.m.
What to know:
- The U.K.'s financial services regulator, the Financial Conduct Authority (FCA), appointed Sarah Pritchard as deputy chief executive.
- The new role comes as the regulator's remit expands to include crypto and stablecoins.
The U.K.'s financial services regulator, the Financial Conduct Authority (FCA), appointed a deputy chief executive for the first time, naming Sarah Pritchard to the role as it looks to bolster its oversight of the crypto and digital assets industry.
"The new role has been created to reflect the FCA’s expanding remit, with … regulation of stablecoin and crypto firms as well as buy now pay later activities," the FCA said on Tuesday.
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The country's regulatory regime trails that of the nearby European Union, which already has a transnational licensing framework in place with its Markets in Crypto Assets (MiCA) regulations. The FCA, which currently certifies that companies on its crypto register comply with anti-money laundering rules, is in the process of creating a more comprehensive regime for the sector. It has said it plans to start authorizing crypto firms along the lines of its approach to traditional finance companies by 2026.
Pritchard's role will include an international element, the FCA said. “The international environment is complex, our remit is growing and expectations of us continue to evolve," Ashley Alder, chair of the FCA, said.
Pritchard was previously an executive director of the agency, helping with supervision and policy oversight. The FCA wants to work with the crypto industry to develop regulation for the sector, she said last year. Since then, it has circulated a number of discussion papers on digital assets and stablecoins for its regulatory program.
She will work alongside CEO Nikhil Rathi, who was reappointed in April another five years, and David Geale, a permanent executive director for payments and digital finance.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Iran accepts cryptocurrency as payment for advanced weapons
Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website.
Bilinmesi gerekenler:
- Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces.
- The offer is among the first known instances of a country accepting cryptocurrency as a means of payment for military equipment, according to the Financial Times.
- The facility for using cryptocurrency to pay for transactions involving sanctioned countries is already well established.
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