FG26/10: Non-Handbook Guidance on CRYPTOPRU 7: Overall risk assessment for CRYPTOPRU firms

Read FG26/10 (PDF)

Why we are issuing this guidance

We've published guidance to help cryptoasset firms complete the overall risk assessment required under our  Prudential sourcebook for CRYPTOPRU firms (CRYPTOPRU). It explains how firms should identify risks, run stress tests, plan recovery actions and prepare for wind-down. This should help firms hold the right amount of financial resources and reduce the risk of harm to their clients and to markets.

Who this is for

• Cryptoasset firms regulated under CRYPTOPRU, including custodians, custodial staking firms and stablecoin issuers. 
• Risk, compliance and prudential teams responsible for completing their firm's overall risk assessment. 
• Firms new to financial regulation that need to understand how to assess their financial resource needs. 
• Cryptoasset trade bodies and professional advisers supporting firms with prudential compliance.

Next steps

This guidance will come into force on 25 October 2027. 

We'll keep monitoring how firms use this guidance and may provide further clarification if needed. We'll also continue to work with the Bank of England as the systemic stablecoin regime develops.

Background

In June 2026, we consulted on this guidance (GC26/5) alongside a related consultation for firms under our Core Prudential sourcebook (GC26/4). We received 11 responses, mostly from cryptoasset firms, membership bodies and professional advisers, and made some changes as a result, including adding examples on de-banking risk and legal risk. 

This guidance builds on our existing guidance, FG20/1, and our Wind-down Planning Guide. It supports the prudential rules in PS26/12 and the FCA Handbook. It's part of our wider strategy to become a smarter regulator, making our rules more accessible by separating supporting guidance from core Handbook content. We developed this guidance alongside similar guidance for firms under our Core Prudential sourcebook, COREPRU (FG26/9). On 30 June 2026, we published a joint paper with the Bank of England setting out our approach to regulating systemic stablecoin issuers, which some firms in scope of this guidance should also be aware of.