FCA Seeks Feedback on New Standards for UK Crypto Firms

The Financial Conduct Authority (FCA) has launched a consultation on proposals to establish minimum standards for crypto firms operating in the United Kingdom. The move is designed to strengthen trust in the sector while ensuring UK businesses can remain competitive in international markets.

The proposals align many of the requirements already applied to traditional financial services, including operational resilience and controls to combat financial crime. However, they also recognise the unique risks of cryptoassets, with the FCA opening a discussion on how the Consumer Duty should apply in this context. This duty would require crypto firms to deliver good outcomes for their customers.

The regulator is also inviting views on complaint-handling processes, including whether consumers should have the right to escalate disputes to the Financial Ombudsman Service.

David Geale, FCA executive director of payments and digital finance, said the aim is to strike a balance between innovation and integrity:

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 better idea of what to expect.

The consultation builds on HM Treasury’s draft legislation published in April 2025. Stakeholders are invited to respond to the consultation paper by 12 November 2025 and to the discussion paper by 15 October 2025. Final rules are expected in 2026, once the legislation is in place.

Read the press release here.