The FCA is inviting feedback on proposed minimum standards that crypto firms will be required to follow.

The proposed rules align closely with requirements already in place for traditional financial firms, including measures on operational resilience and systems and controls to prevent financial crime.

The FCA intends the rules to be proportionate, ensuring that UK firms remain competitive in international markets.

Given the specific characteristics of the cryptoasset sector, the FCA has also opened a discussion on how the Consumer Duty should apply to crypto. This could mean requiring firms to act in ways that deliver good outcomes for consumers. The regulator is further seeking views on complaints handling, including whether crypto-related complaints should be eligible for referral to the Financial Ombudsman Service.

David Geale, Executive Director of Payments and Digital Finance at the FCA, said:

“We want to develop a sustainable and competitive crypto sector – balancing innovation, market integrity and trust. Our proposals won’t remove the risks of investing in crypto, but they will help firms meet common standards so consumers have a clearer idea of what to expect. We are working now on what those standards should look like, ahead of legislation to bring the sector within our regulation.”

These proposals follow the draft legislation published by HM Treasury in April 2025.

The consultation deadlines are:

• 15 October 2025 for responses to the discussion paper.
• 12 November 2025 for responses to the consultation paper.

The FCA plans to publish final rules in 2026.