The Financial Conduct Authority (FCA), the regulatory body in the United Kingdom, has revealed a set of proposed guidelines intended to encourage ethical operational standards among companies dealing in cryptocurrencies.
According to a media statement released Wednesday, September 17th, many of these suggested regulations mirror those already in place for more conventional financial institutions.
While the FCA already has rules in effect regarding the marketing of crypto assets and measures to counter financial offenses, these new proposals aim to broaden the scope of regulatory oversight. This expansion seeks to safeguard consumers from unfair business practices, foster greater confidence within the cryptocurrency market, and guarantee that firms are both resilient in their operations and prepared to combat illicit activities. The information was detailed in a consultation document released on Wednesday.
The FCA is actively soliciting feedback on its propositions, including the suitable application of Consumer Duty rules for consumer protection within the crypto space, as well as the appropriate procedures for handling complaints, as highlighted in the announcement.
Based on the feedback received concerning these proposals, the FCA anticipates issuing the finalized regulations sometime in 2026, according to the announcement.
David Geale, the Executive Director of Payments and Digital Finance at the FCA, stated in the press release: “We are committed to cultivating a crypto sector that is both sustainable and competitive, striking a balance between innovation, market integrity, and public trust.” He added, “While our suggestions won’t completely eliminate the risks associated with investing in crypto, they will assist businesses in adhering to consistent benchmarks, giving consumers a clearer sense of what they can anticipate.”
Advertisement: Scroll to Continue
The FCA’s unveiling of these proposals follows HM Treasury’s prior publication in February of draft legislative text aimed at establishing a regulatory infrastructure for crypto assets, the release noted.
Geale further commented that the regulator is actively developing standards “in advance of forthcoming legislation to incorporate crypto activities within our regulatory scope.”
Back in November, the FCA released a roadmap outlining its plans for cryptocurrency regulation, stating its intent to engage the public through a sequence of focused consultations leading up to the finalization of crypto regulations in 2026.
At that time, the regulator indicated that 12% of adults in the United Kingdom owned crypto assets, an increase from the 10% previously recorded, and that awareness of crypto had risen to 93%, up from 91%.
According to surveys conducted by the FCA, ten percent of UK adults admitted to not performing any research before investing in cryptocurrencies.
Reports from August indicated that the UK’s cryptocurrency community welcomed the FCA’s decision to lift the ban on offering crypto exchange-traded products to retail investors.