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The FCA is consulting on more rules for cryptoasset firms. It says that it has made significant progress in delivering its crypto roadmap and are helping firms to meet its standards and to get ready for when the gateway opens in September 2026.
In this consultation, the FCA has made proposals about how the Consumer Duty, conduct standards, redress and safeguarding will apply to cryptoasset firms. It is also seeking feedback on its proposed approach to international cryptoasset firms.
This consultation follows a package of proposals set out in December on how it intends to apply a similar approach to cryptoassets as it does in traditional finance, with clear information for consumers, proportionate requirements for firms and flexibility to support innovation. It is consulting on:
- Consumer Duty – how the Duty will apply to cryptoasset firms, supported by additional non-Handbook guidance, so firms deliver good outcomes for retail customers.
- Redress and dispute resolution (DISP) – the FCA's approach to complaints handling and redress, ensuring consumers have clear routes to resolve issues.
- Conduct of Business Standards (COBS) – applying key conduct rules to cryptoasset activities, so firms act fairly and transparently.
- Credit for crypto purchases – rules on using credit to buy cryptoassets, to reduce risks of harm from borrowing to invest.
- Training and competence – standards for staff knowledge and skills, so firms have competent people managing crypto services.
- Senior Managers and Certification Regime (SM&CR) – the FCA's approach to categorising cryptoasset firms under the Senior Managers and Certification Regime.
- Regulatory reporting (SUP 16) – requirements for firms to report data to the FCA to help it to monitor risks and supervise effectively.
- Cryptoasset safeguarding – applying safeguarding rules to firms conducting multiple regulated cryptoasset activities, and the FCA's proposed approach to custody of specified investment cryptoassets.
- Retail collateral treatment in cryptoasset borrowing – how retail consumers' collateral should be treated when they borrow cryptoassets, to protect their interests.
- Location policy guidance – clarifying the FCA's expectations on where cryptoasset firms should be based, to ensure effective oversight.
The consultation ends on 12 March 2026.
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