FCA proposes new conduct and safeguarding rules for crypto firms
The Financial Conduct Authority (FCA) has launched a consultation on new rules for cryptoasset firms, covering consumer duty, conduct standards, redress, and safeguarding. The proposals represent the final step in the regulator's crypto roadmap.
Protecting the crypto consumer
The FCA's proposals aim to foster a trustworthy, competitive, and sustainable crypto market.
Key elements include applying the Consumer Duty to ensure good outcomes for retail customers, establishing clear routes for complaints handling and redress, and setting conduct of business standards for fair and transparent operations.
The regulator also addresses rules for using credit to purchase cryptoassets and standards for staff training and competence.
These measures are designed to support innovation while ensuring consumers understand the inherent risks, as regulation cannot eliminate all risk.
Final steps on a long roadmap
This consultation marks the final stage in the FCA's comprehensive crypto roadmap, aiming to align cryptoasset regulation with traditional finance principles.
The regulator has made substantial progress, preparing firms for the market gateway opening in September 2026. Previous consultations addressed stablecoin issuance, custody, and prudential rules.
The FCA reiterates that cryptoassets remain largely unregulated, except for financial promotions and financial crime, highlighting the need for continued investor awareness regarding inherent risks.