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Future Cryptoasset Regulatory Regime

Up-to-date information, analysis, and source links to help cryptoasset businesses understand and respond to the latest regulatory developments.

Last updated June 2026.

Awaiting Publication

FCA Final Perimeter Guidance

Publication Date: Expected autumn 2026
Regulator: FCA
Description: The final perimeter guidance following CP26/13 Cryptoasset Perimeter Guidance is expected in autumn 2026.
Publication Type: Final guidance
Response Date: N/A
Link: Not yet published

Defi guidance and Financial Crime Guide

Publication Date: 2026
Regulator: FCA
Description: The FCA has confirmed that it will consult in late 2026 on DeFi guidance and updates to the Financial Crime Guide relevant to cryptoasset firms. Latham will continue to monitor and report on further consultation papers.
Publication Type: Final guidance
Response Date: N/A
Link: Not yet published

FCA application gateway opens

Publication Date: Expected 30 September 2026
Regulator: FCA
Description: The FCA application period is expected to open on 30 September 2026 and close on 28 February 2027, ahead of the new regime commencing on 25 October 2027.
Publication Type: Regulatory milestone
Response Date: N/A
Link: FCA gateway webpage

Additional cryptoasset policy statements and guidance

Publication Date: 2026
Regulator: FCA
Description: Latham will continue to monitor and report on further policy statements and guidance. At this stage, we are awaiting a policy statement to follow CP26/19 – DEPP Manual Updates and CP26/8 – Quarterly Consultation Paper No. 51.
Publication Type: Policy statements and guidance
Response Date: N/A
Link: Not yet published

HMT consultation on wider payment services reforms (including stablecoin payments)

Publication Date: Q2 2026 (expected)
Regulator: HMT
Description: Consultation on the review of assimilated payments law, including stablecoin payments and whether safeguarding undertaken in the course of providing payment services should sit within the payments regime rather than the crypto regime.
Publication Type: Consultation paper
Response Date: N/A
Link: Not yet published

Final FSMA (Cryptoassets) (Amendment) Regulations 2026

Publication Date: TBC (feedback closed 22 May 2026)
Regulator: HMT
Description: Final statutory instrument awaited following HM Treasury’s consultation on the draft amending SI.
Publication Type: Statutory instrument
Response Date: N/A
Link: Not yet published

Published

PS26/9: Regulating Cryptoassets – Admissions & Disclosures and Market Abuse Regime for Cryptoassets

Publication Date: 30 June 2026
Regulator: FCA
Description: Final rules and guidance establishing the Admissions & Disclosures (A&D) regime and Market Abuse Regime for Cryptoassets (MARC). The A&D regime sets requirements for how cryptoassets are admitted to trading on UK qualifying cryptoasset trading platforms (CATPs), including due diligence obligations, qualifying cryptoasset disclosure documents (QCDDs), and supplementary disclosure documents. The MARC regime introduces prohibitions on insider dealing, unlawful disclosure of inside information, and market manipulation in relation to qualifying cryptoassets admitted to trading on a CATP. This PS responds to CP25/41.
Publication Type: Policy statement
Response Date: N/A
Link: FCA PS26/9

PS26/10: Stablecoin issuance

Publication Date: 30 June 2026
Regulator: FCA
Description: Final rules and guidance for the activities of issuing a qualifying stablecoin and safeguarding qualifying cryptoassets, including qualifying stablecoins. Covers backing asset requirements, redemption rights, governance, disclosures, and trust arrangements for stablecoin issuers, as well as segregation, records, and reconciliation requirements for cryptoasset custodians. This PS responds to CP25/14.
Publication Type: Policy statement
Response Date: N/A
Link: FCA PS26/10

PS26/11: Regulated cryptoasset activities

Publication Date: 30 June 2026
Regulator: FCA
Description: Final rules and guidance for firms conducting regulated cryptoasset activities, including operating a qualifying cryptoasset trading platform, dealing in qualifying cryptoassets as principal and agent, arranging deals in qualifying cryptoassets, and staking. The statement sets conduct standards aimed at promoting market integrity, protecting consumers, and supporting innovation and competition in the UK cryptoasset sector. This PS responds to CP25/14, CP25/40, and CP26/4.
Publication Type: Policy statement
Response Date: N/A
Link: FCA PS26/11

PS26/12: Prudential Regime for Cryptoasset Firms

Publication Date: 30 June 2026
Regulator: FCA
Description: Final rules establishing the prudential framework for cryptoasset firms, including capital and liquidity requirements, risk assessment processes, and prudential disclosure obligations. Introduces the COREPRU (core prudential) and CRYPTOPRU (crypto-specific prudential) sourcebooks, covering all regulated cryptoasset activities including stablecoin issuance, custody, operating a CATP, staking, arranging deals, dealing as agent, and dealing as principal. All firms must meet financial resilience requirements including capital and stress testing. This PS responds to CP25/15 and CP25/42.
Publication Type: Policy statement
Response Date: N/A
Link: FCA PS26/12

GC26/4: Non-Handbook guidance on COREPRU 7: overall risk assessment

Publication Date: 30 June 2026
Regulator: FCA
Description: Guidance consultation on non-Handbook guidance relating to COREPRU 7 (Overall Risk Assessment), setting out expectations for how firms subject to the core prudential sourcebook should conduct their overall risk assessment, including assessment of business model risks, material harms, adequacy of financial resources, and wind-down planning. Published alongside PS26/12.
Publication Type: Guidance consultation
Response Date: 30 July 2026
Link: FCA GC26/4

GC26/5: Non-Handbook guidance on CRYPTOPRU 7: overall risk assessment for CRYPTOPRU firms

Publication Date: 30 June 2026
Regulator: FCA
Description: Guidance consultation on non-Handbook guidance relating to CRYPTOPRU 7 (Overall Risk Assessment for CRYPTOPRU firms), setting out expectations for how cryptoasset firms subject to the crypto-specific prudential sourcebook should conduct their overall risk assessment. Published alongside PS26/12.
Publication Type: Guidance consultation
Response Date: 30 July 2026
Link: FCA GC26/5

PS26/13: Application of FCA Handbook for Regulated Cryptoasset Activities

Publication Date: 30 June 2026
Regulator: FCA
Description: Final rules and guidance on how the existing FCA Handbook applies to firms conducting regulated cryptoasset activities, including the application of the Consumer Duty, Senior Managers and Certification Regime (SM&CR), conduct of business rules, client assets and money (CASS) requirements, complaints handling, dispute resolution and training and competence. Also addresses the use of credit to purchase cryptoassets and the approach to international cryptoasset firms. This PS responds to CP25/25 and CP26/4.
Publication Type: Policy statement
Response Date: N/A
Link: FCA PS26/13

FG26/5: Non-Handbook guidance on the Consumer Duty for Cryptoasset Firms

Publication Date: 30 June 2026
Regulator: FCA
Description: Finalised non-Handbook guidance on the application of the Consumer Duty to cryptoasset firms. Provides sector-specific guidance on how the three cross-cutting rules (act in good faith, avoid foreseeable harm, support customers in pursuing their financial objectives) and the four outcomes (products and services, price and value, consumer understanding, consumer support) should be interpreted in the context of cryptoassets, recognising the sector’s distinct risks, complexity, and market structure. This finalises the earlier guidance consultation GC26/2. Published alongside PS26/13.
Publication Type: Finalised guidance
Response Date: N/A
Link: FCA FG26/5

FG26/6: Approach to international cryptoasset firms

Publication Date: 30 June 2026
Regulator: FCA
Description: Finalised non-Handbook guidance setting out the FCA’s approach to international cryptoasset firms seeking to provide services in or to the UK under the new regime. The guidance addresses territorial scope questions, including how firms based overseas interact with the UK regulatory perimeter and what authorisation requirements apply. Published alongside PS26/13.
Publication Type: Finalised guidance
Response Date: N/A
Link: FCA FG26/6

FG26/7: Operational resilience

Publication Date: 30 June 2026
Regulator: FCA
Description: Finalised non-Handbook guidance on operational resilience for cryptoasset firms, setting out expectations for how firms conducting regulated cryptoasset activities should identify important business services, set impact tolerances, and ensure they can remain within those tolerances through severe but plausible scenarios. Published alongside PS26/13.
Publication Type: Finalised guidance
Response Date: N/A
Link: FCA FG26/7

FCA and BoE paper on their approach to joint regulation of systemic stablecoin issuers

Publication Date: 30 June 2026
Regulator: FCA and BoE
Description: The joint approach paper sets out how the FCA and BoE as well as other relevant authorities will work together to regulate systemic stablecoin issuers in the UK. The paper includes information on splitting responsibilities between the regulators and when dual supervision would be appropriate.
Publication Type: Approach document
Response Date: N/A
Link: Approach document

BoE policy statement on the regulatory regime for sterling-denominated systemic stablecoins

Publication Date: 22 June 2026
Regulator: BoE
Description: Policy statement setting out the Bank’s regulatory regime for systemic stablecoin issuers, together with a consultation on a draft Code of Practice (Appendix 4). The consultation follows the BoE’s November 2025 consultation and reflects feedback as well as the FSRC’s June 2026 recommendations.
Key changes are:

a revised 70/30 backing asset composition — 70% short-term UK government debt with up to six months’ residual maturity and 30% unremunerated central bank deposits, with overnight repo and reverse repo against eligible gilts permitted;
abandonment of the proposed £20,000 individual and £10 million business holding limits in favour of a temporary issuance guardrail set initially at £40 billion per systemic stablecoin product — to be loosened and removed once risks to credit provision are mitigated; and
clarifications on capital and reserves, safeguarding via two statutory trusts, issuance, legal claim and redemption (redemption within 24 hours, with no suspension permitted), and remuneration (no interest to coinholders, although activity-based rewards are not prohibited).

The BoE also confirmed a Central Bank Liquidity Facility as a backstop for solvent issuers, with detail to follow in 2027. The Code is to be finalised by end-2026, and a joint BoE/FCA “Approach to Joint Regulation” document will follow shortly. Systemic stablecoins will be regulated jointly by the BoE and the FCA once recognised by HM Treasury.

Publication Type: Policy statement and consultation
Response Date: 22 September 2026 (consultation on draft Code of Practice)
Link: BoE policy statement

CP26/19: Changes to the FCA’s penalty and decision-making policies

Publication Date: 15 June 2026
Regulator: FCA
Description: Consultation on amendments to the Decision Procedure and Penalties Manual, including consequential changes extending the FCA penalty framework to cryptoasset market abuse and to reflect new enforcement powers under the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026.
Publication Type: Consultation paper
Response Date: 10 August 2026
Link: FCA CP26/19

House of Lords report: “Stablecoins: waiting for regulation”

Publication Date: 3 June 2026
Regulator: House of Lords Financial Services Regulation Committee
Description: Report calling for a proportionate stablecoin regime and further work on holding limits, unremunerated backing assets, redemption requirements and stablecoin capital requirements, urging the BoE to reconsider its proposed holding limits and 40% unremunerated central bank deposit requirement.
Publication Type: Parliamentary committee report
Response Date: N/A
Link: House of Lords report

FCA begins accepting PASS meeting requests from cryptoasset firms

Publication Date: 30 April 2026
Regulator: FCA
Description: FCA press release announcing that, ahead of the cryptoasset authorisation gateway opening, cryptoasset firms can begin submitting requests for pre-application support service (PASS) meetings with the FCA from 11 May 2026.
Publication Type: FCA press release and webpages
Response Date: N/A
Link: FCA press release; new regime webpage; preparation webpage

Draft SI amending the FSMA (Cryptoassets) Regulations 2026

Publication Date: 21 April 2026
Regulator: HMT
Description: On 21 April 2026, HM Treasury published the draft Financial Services and Markets Act 2000 (Cryptoassets) (Amendment) Regulations 2026 (the draft SI), with a policy note, proposing targeted amendments to the FSMA (Cryptoassets) Regulations 2026 (S.I. 2026/102).

Amending the Regulated Activities Order (RAO) and the Financial Promotion Order 2005 ( FPO), its purpose is to keep UK-issued qualifying stablecoins (UKQS) out of the cryptoasset dealing and arranging perimeter ahead of the government’s wider payments reforms, while leaving genuinely investment-like activity in scope.

The key measures are
1. a new RAO article 9Z10A excluding UKQS transfers and exchanges (for money or another UKQS) from dealing as principal, dealing as agent and arranging deals, so stablecoin payments firms need not obtain dealing and arranging authorisations before those reforms
2. lending and borrowing remaining in scope, the carveout not reaching transfers subject to a right or obligation to reacquire the same or an equivalent stablecoin, nor exchanges of a UKQS for a non-UKQS cryptoasset
3. a new article 9UA excluding proprietary trading and market-making
4. new articles 9R(4) and 9Q extending the central securities depository (CSD) and nominee exemptions to specified investment cryptoassets, covering CSD safeguarding and temporary settlement arrangements; and
5. a new FPO article 73ZAA disapplying the financial promotion restriction for UKQS transfer and exchange communications, with qualifying stablecoin issuance and qualifying stablecoins added as a new controlled activity and controlled investment in Schedule 1.

UKQS-only firms without another FSMA permission would still need to register under the Money Laundering Regulations, and the consequential amendments to the Collective Investment Schemes Order 2001 and the AIFM Regulations 2013 would commence 30 days after the remaining provisions. Written submissions were due by 22 May 2026.

Publication Type: Policy note and draft statutory instrument
Response Date: N/A (feedback closed 22 May 2026)
Link: Draft SI; Explanatory Memorandum

CP26/13: Cryptoasset Perimeter Guidance

Publication Date: 15 April 2026
Regulator: FCA
Description: Consultation paper proposing new perimeter guidance for the cryptoasset regulatory regime, including draft PERG 19 guidance on regulated cryptoasset activities, specified investments, exclusions, territorial scope, and interactions with the Money Laundering Regulations.
Publication Type: Consultation paper
Response Date: 3 June 2026
Link: FCA CP26/13

UK Parliament publishes draft amendments to the Money Laundering Regulations

Publication Date: 26 March 2026
Regulator: UK Parliament
Description: Draft statutory instrument proposing amendments to the Money Laundering and Terrorist Financing Regulations to support the transition to the new FSMA cryptoasset regulatory regime.
Publication Type: Draft statutory instrument
Response Date: N/A
Link: Draft statutory instrument and draft explanatory memorandum

CP26/8: Quarterly Consultation Paper No. 51

Publication Date: 6 March 2026
Regulator: FCA
Description: Quarterly consultation paper proposing miscellaneous amendments to the FCA Handbook, including consequential amendments to CASS 1, 7, and 8 following the proposed changes to the definition of designated investment business, to ensure the rules work for cryptoasset activities and the wider new crypto regime.
Publication Type: Consultation paper
Response Date: 13 April 2026 (Chapters 2–4 and 6–9); 20 April 2026 (Chapter 5); 23 March 2026 (Chapter 10)
Link: FCA CP26/8

Cryptoasset firms' use of section 21 approvers

Publication Date: 27 February 2026
Regulator: FCA
Description: Sets out the FCA’s position on the continued use of section 21 approvers by cryptoasset firms under the new cryptoasset regulatory regime, including transitional arrangements and expectations during the application period.
Publication Type: FCA webpage
Response Date: N/A
Link: FCA publication

FCA Authorisations introductory webinar (responses to questions from firms)

Publication Date: 27 February 2026
Regulator:FCA
Description: Responses to questions raised by firms during the FCA’s Authorisations introductory webinar (January 2026), covering the scope, application process, and implementation of the new UK cryptoasset regulatory regime.
Publication Type: FCA Q&A document
Response Date: N/A
Link: FCA publication

The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (Final Regulations)

Publication Date: 4 February 2026
Regulator: UK Parliament
Description: On 15 December 2025, the draft Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 was laid before Parliament, establishing the statutory framework for regulating cryptoasset activities and coming into force on 25 October 2027. The final version was approved by both Houses of Parliament and enacted and published on 4 February 2026.
Publication Type: Statutory instrument
Response Date: N/A
Link: UK Parliament statutory instrument and explanatory memorandum

CP26/4: Application of the FCA Handbook for regulated cryptoasset activities

Publication Date: 23 January 2026
Regulator: FCA
Description: The proposals set out rules addressing how the Consumer Duty will apply to cryptoasset firms supported by guidance, bringing these firms within the FCA’s complaint handling framework. They also introduce measures aimed at reducing the risks associated with the use of credit to purchase cryptoassets, and outline the FCA’s expectations in relation to training, competence, and regulatory reporting.
Publication Type: Consultation paper and guidance
Response Date: 12 March 2026
Link: FCA CP26/4 and FCA GC26/2

FCA announces that the cryptoasset application gateway will run from 30 September 2026 to 28 February 2027

Publication Date: 8 and 29 January 2026; 26 March 2026
Regulator: FCA
Description: On 8 January 2026, the FCA published various updates on its website, including that the gateway for firms seeking approval under the future regulatory regime for cryptoasset activities will open in September 2026. On 29 January 2026, the FCA announced that the “application period” will run from 30 September 2026 to 28 February 2027. On 26 March 2026, the FCA published information for firms considering applying for registration under the Money Laundering Regulations, ahead of the new cryptoasset regime. In addition, the FCA will open the pre-application support service (PASS) in July 2026 as well as publish application forms.

The FCA has stated that it will allow firms some latitude in level of preparation given the compressed timing — generally the requirement is that firms are "ready, willing and organised" to provide services at the time of application — though for the cryptoasset regime, the FCA will expect firms to be "ready and willing" and with a "credible plan" to be organised to provide services if authorised.

Where a firm applies for authorisation (or variation) during the application period, the FCA expects to determine its application before the new regime commences. However, if this is not the case, the Crypto SI includes a saving provision that will allow the firm to continue to provide cryptoasset services until its application has been finally determined.

Many stakeholders had expected that the FCA would not open the gateway until close to the commencement of the new regime (25 October 2027), which would have allowed time for firms to prepare and submit applications in an orderly fashion.

As part of these updates, the FCA published various webpages outlining the regulatory requirements and expectations for businesses carrying out regulated cryptoasset activities in the UK market, including FSMA and the FCA handbook requirements, the minimum standards for firms and individuals, the FCA’s approach to authorisation and supervision, how the FCA’s authorisation gateway will operate, savings provisions, and transitional provisions for firms exiting the UK market.
Publication Type: FCA guidance
Response Date: N/A
Link: FCA new regime for cryptoasset regulation

The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 (Draft Regulations)

Publication Date: 15 December 2025
Regulator: UK Parliament
Description: The draft Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 has been before Parliament, establishing the statutory framework for regulating cryptoasset activities and coming into force on 25 October 2027. The draft Regulations will need to be approved by both Houses of Parliament before it can be finalised and come into force.
Publication Type: Draft statutory instrument
Response Date: N/A
Link: UK Parliament draft statutory instrument and draft explanatory memorandum

CP25/40: Regulating cryptoasset activities (trading platforms, intermediation, lending and staking)

Publication Date: 16 December 2025
Regulator: FCA
Description: Consultation paper sets out proposed rules and guidance for cryptoasset activities such as operating trading platforms, intermediaries, lending and borrowing, staking, and the FCA’s approach to decentralised finance. CP25/40 followson from DP25/1 Regulating cryptoasset activities (trading platforms, intermediation, lending and staking) (May 2025).
Publication Type: Consultation paper
Response Date: 12 February 2026
Link: FCA CP25/40

CP 25/41: Admissions and disclosures and market abuse Regime

Publication Date: 16 December 2025
Regulator: FCA
Description: The admissions and disclosures regime and separately the market abuse regime will form a core part of the UK’s future crypto regulatory framework. The FCA is proposing to introduce measures to improve transparency at admission of a cryptoasset to trading, enhance market integrity by tackling fraud, scams, insider dealing, and market manipulation, and raise standards across cryptoasset markets to support fair competition and well-functioning markets. CP25/41 follows on from DP24/4 Regulating cryptoassets – Admissions & Disclosures and Market Abuse Regime for Cryptoassets (December 2024).
Publication Type: Consultation paper
Response Date: 12 February 2026
Link: FCA CP25/41

CP25/42: A prudential regime for cryptoasset firms (second prudential consultation paper)

Publication Date: 16 December 2025
Regulator: FCA
Description: Sets out capital, liquidity, and risk management requirements to ensure financial resilience and consumer protection for firms conducting regulated cryptoasset activities. This is the FCA’s second consultation paper on prudential standards and follows on from CP25/15 (May 2025) which proposed prudential rules for stablecoin issuers and cryptoasset safeguarding firms.
Publication Type: Consultation paper
Response Date: 12 February 2026
Link: FCA CP25/42

Consultation paper: proposed regulatory regime for sterling-denominated systemic stablecoins

Publication Date: 10 November 2025
Regulator: BoE
Description: Consultation paper setting out the BoE’s proposed regulatory regime for sterling-denominated systemic stablecoins, including prudential and operational requirements, temporary holding limits, and backing asset rules. The consultation paper follows the BoE’s discussion paper on the regulatory regime for systemic payment systems using stablecoins and related service providers (November 2023).
Publication Type: Consultation paper
Response Date: 10 February 2026
Link: BoE consultation paper

CP25/25: Application of FCA Handbook for Regulated Cryptoasset Activities

Publication Date: 17 September 2025
Regulator: FCA
Description: Consultation paper addressing how the FCA Handbook rules will apply to cryptoasset firms, including high level standards (PRIN, SYSC, COCON, COND, FIT, and GEN), business standards (ESG), regulatory processes (SUP, and DEPP), regulatory/registry guides (FCG and FCTR), and the FCA glossary terms. It provides non-Handbook Guidance to support the operation of SYSC 15A on operational resilience, how to achieve similar outcomes to the Consumer Duty, and whether access to the FOS and DISP 1 rules should be extended to cryptoasset firms. The consultation paper follows on from DP25/1 on regulating cryptoasset activities (May 2025) and HMT’s Future financial services regulatory regime for cryptoassets: Response to the consultation and call for evidence (October 2023).
Publication Type: Consultation paper
Response Date: 15 October 2025 (chapters 6-7); 12 November 2025 (chapters 1-5)
Link: FCA CP25/25

CP25/15: A prudential regime for cryptoasset firms

Publication Date: 28 May 2025
Regulator: FCA
Description: Proposed prudential rules for cryptoasset firms, particularly stablecoin issuers and cryptoasset safeguarding firms. This consultation paper follows on from DP23/4 Regulating cryptoassets Phase 1: Stablecoins (November 2023).
Publication Type: Consultation paper
Response Date: 31 July 2025
Link: FCA CP25/15

CP25/14: Stablecoin issuance and cryptoasset custody

Publication Date: 28 May 2025
Regulator: FCA
Description: Consultation paper covering conduct regulations and requirements for qualifying stablecoin issuers and qualifying cryptoasset custodians
Publication Type: Consultation paper
Response Date: 31 July 2025
Link: FCA CP25/14

DP25/1: Regulating cryptoasset activities (trading platforms, intermediation, lending and staking)

Publication Date: 2 May 2025
Regulator: FCA
Description: FCA discussion paper on the regulatory approach for cryptoasset-related activities under the new regime, seeking views on regulation of trading platforms, intermediaries, staking, lending and borrowing, and decentralised finance. The FCA also sought feedback on the use of credit to purchase cryptoassets.
Publication Type: Discussion paper
Response Date: 13 June 2025
Link: FCA DP25/1

Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025 (Draft SI)

Publication Date: 29 April 2025
Regulator: HMT
Description: Near-final draft legislation establishing a new UK cryptoasset regulatory regime including new regulated activities
Publication Type: Draft statutory instrument
Response Date: 23 May 2025
Link: HMT draft statutory instrument

Policy note on the future financial services regulatory regime for cryptoassets (regulated activities)

Publication Date: 29 April 2025
Regulator: HMT
Description: Policy note accompanying the draft statutory instrument for cryptoasset regulation; provides an explanation of the proposed regime
Publication Type: Policy note
Response Date: 23 May 2025
Link: HMT policy note

New cryptoasset rules to drive growth and protect consumers

Publication Date: 29 April 2025
Regulator: HMT
Description: Summary of the new UK cryptoasset rules designed to enhance protection and foster market growth
Publication Type: Government press release
Response Date: N/A
Link: HMT press release

DP24/4: Regulating cryptoassets – Admissions & Disclosures and Market Abuse Regime for Cryptoassets

Publication Date: 16 December 2024
Regulator: FCA
Description: Discussion paper detailing proposed rules for cryptoasset admissions and disclosures as well as a cryptoasset-specific market abuse regime
Publication Type: Discussion paper
Response Date: 14 March 2025
Link: FCA DP24/4

FCA Crypto Roadmap

Publication Date: 26 November 2024
Regulator: FCA
Description: Proposed schedule for policy publications related to cryptoassets and the content the publications are expected to cover.
Publication Type: Crypto roadmap
Response Date: N/A
Link: FCA Crypto Roadmap

DP23/4: Regulating cryptoassets Phase 1: Stablecoins

Publication Date: 6 November 2025
Regulator: FCA
Description: Discussion paper on regulation of fiat-backed stablecoins including custody, issuance, and payments
Publication Type: Discussion paper
Response Date: 6 February 2024
Link: FCA DP23/4

Discussion paper: Regulatory regime for systemic payment systems using stablecoins and related service providers

Publication Date: 6 November 2025
Regulator: BoE
Description: Discussion paper setting out the BoE’s proposed regulatory regime systemic payment systems using stablecoins and related service providers. The paper focuses on sterling-denominated stablecoins as it considers them the most likely digital settlement assets to be used widely for payments.
Publication Type: Discussion paper
Response Date: 12 February 2024
Link: BoE discussion paper

Future financial services regulatory regime for cryptoassets: response to the consultation and call for evidence

Publication Date: 30 October 2023
Regulator: HMT
Description: HMT outline of intention to bring a number of crypto activities into the regulatory perimeter for financial services firms.
Publication Type: Response to consultation and call for evidence
Response Date: N/A
Link: HMT consultation response

Update on plans for the regulation of fiat-backed stablecoins

Publication Date: 30 October 2023
Regulator: HMT
Description: HMT update on plans for the regulation of fiat-backed stablecoins, providing further clarity on activities relating to fiat-backed stablecoins.
Publication Type: Policy update
Response Date: N/A
Link: HMT policy update

Future financial services regulatory regime for cryptoassets

Publication Date: 1 February 2023
Regulator: HMT
Description: HMT consultation and call for evidence on a future regulatory framework for cryptoassets in the UK
Publication Type: Consultation and call for evidence
Response Date: 30 April 2023
Link: HMT consultation and call for evidence