FCA Proposes Rules On Trading, Staking & Market Abuse In Cryptoassets

On 16 December 2025, the Financial Conduct Authority (FCA) published three consultation papers (CP25/40, CP25/41, CP25/42) outlining rules for the UK cryptoasset market.

The announcements followed HM Treasury laying the draft Cryptoasset Regulations 2025 before Parliament. Together, these measures expand the FCA’s current remit beyond financial promotions and anti-money laundering to include seven new regulated activities, such as issuing stablecoins, safeguarding cryptoassets, operating trading platforms, and arranging staking. The proposals also cover market abuse, disclosures, admissions, lending, borrowing, and decentralised finance, applying the principle of “same risk, same regulatory outcome.” A prudential framework introduces minimum capital requirements and risk-based assessments for crypto firms.

The regulations will take effect in October 2027, subject to parliamentary approval. Stakeholders can submit responses to the consultation papers by February 12, 2026.