Discover our proposed new prudential rules for all cryptoasset firms that will need our authorisation. This consultation paper (CP) builds on our earlier CP25/15 and extends our regulation to additional cryptoasset activities.
Following legislation, new cryptoasset activities will come under our regulatory remit. This CP extends the scope of our regulation to operating a qualifying cryptoasset trading platform (CATP), staking, arranging deals, dealing as agent and dealing as principal in qualifying cryptoassets. It also contains additional proposed prudential rules applying to all regulated cryptoasset activities.
This CP is published alongside CP25/40, which sets out our proposed rules and guidance for firms conducting regulated cryptoasset activities, and CP25/41, which sets out our proposed requirement for admissions, disclosures and our market abuse regime for cryptoassets.
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On 30 June 2026, we published our final rules and guidance, which will apply to all cryptoasset firms which have been authorised to operate under FSMA on or after 25 October 2027.
In December 2025, the Treasury introduced the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 (‘the Cryptoasset Regulations’) to bring new cryptoasset activities within our regulatory remit.
In May 2025, we published a CP on proposed prudential rules and guidance for issuing qualifying stablecoins and safeguarding qualifying cryptoassets.