FCA Reaches Final Stage in Shaping UK Crypto Rules

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The UK Financial Conduct Authority is in the final phase of consulting on a core package of cryptocurrency regulations, marking a key step in implementing the government’s digital asset roadmap. The regulator is now seeking public input on 10 specific proposals, which it calls the “final step” in its sector consultation.

According to the FCA, the proposals aim to build “an open, sustainable and competitive crypto market that people can trust.” The agency balanced this ambition with a cautionary note, stating, “risks remain, and we want a market where innovation can thrive, but where people understand the risks.”

The wide-ranging proposals cover business conduct, crypto purchases made on credit, regulatory reporting, and how firms must safeguard client assets. Stakeholders have until March 12 to submit their feedback on the planned rules.

This set of measures was originally unveiled in December, reflecting the FCA’s approach to regulating crypto activities similarly to traditional financial services. The regulator stated it has made “significant progress” in refining these details in line with the government’s plans.