UK regulator seeks feedback on crypto rules
Regulators are seeking views on how complaints should be managed, including possible referrals to the Financial Ombudsman Service.
The Financial Conduct Authority (FCA) has launched a consultation on proposed minimum standards for crypto firms, reflecting rules already applied to traditional financial services. The proposals cover areas such as operational resilience and measures to combat financial crime.
Regulators intend the framework to be proportionate, supporting UK competitiveness in global markets. The FCA is also examining how its Consumer Duty should apply to crypto, ensuring firms act to deliver good outcomes for clients.
Views are being sought on complaint-handling, including whether cases should be referred to the Financial Ombudsman Service.
David Geale, executive director of payments and digital finance, said the FCA aims to build a sustainable and competitive crypto sector by balancing innovation with trust and market integrity. He noted the standards would not eliminate investment risks but would give consumers clearer expectations.
The consultation follows draft legislation published by HM Treasury in April 2025. Responses on the discussion paper are due by 15 October 2025, with feedback on the consultation paper closing on 12 November 2025. Final rules are expected in 2026.
Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!