The U.K. Financial Conduct Authority (FCA) has appointed Sarah Pritchard as its first deputy chief executive, a move aimed at enhancing the agency’s regulatory grasp over the expanding realms of cryptocurrencies and digital assets.

According to the FCA, “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”.

This appointment comes at a time when the U.K.’s regulatory framework for crypto is evolving to catch up with the more established frameworks such as the EU’s Markets in Crypto Assets (MiCA).

Pritchard’s new responsibilities include international regulatory engagement, noted Ashley Alder, Chair of the FCA, emphasizing the growing complexity and expectations for the FCA.

Prior to this position, Sarah Pritchard served as an executive director within the FCA, focusing on oversight and policy. The FCA is now also keen on collaborating with the crypto sector to shape effective regulations for the digital asset landscape.