The Financial Conduct Authority (FCA) has published proposals to introduce minimum standards that crypto firms in the UK would be expected to meet, if and when new legislation brings them into the regulatory perimeter. (FCA press release, 17 September 2025)
What the Proposals Cover
- The proposed standards would mirror rules already applied to traditional financial firms, such as operational resilience, governance, systems and controls, and measures to combat financial crime.
- The FCA aims for the regime to be proportionate, so UK firms can remain competitive internationally while maintaining safeguards.
- Recognising that crypto markets have distinct features, the FCA is opening a discussion about how Consumer Duty obligations and complaints handling (including possible access to the Financial Ombudsman Service) might apply to crypto firms.
Legislative & Consultation Timeline
- These proposals follow draft legislation published by HM Treasury in April 2025, which would enable the FCA to regulate cryptoasset activities under the law.
- The FCA is seeking feedback via consultation: responses on the consultation paper are due by 12 November 2025, and responses on the discussion paper on complaints processes by 15 October 2025.
- Final rules are expected to be published in 2026, once the necessary legislation is in place.
