Three Key Principles

  • UK Leadership
    Members recognise the UK’s potential to become a global leader in financial services related to cryptoassets, dependent on the advancement of a supportive operating environment.
  • Support Good Regulation
    Members support the introduction of appropriate regulation in the UK to ensure consumer safety, the promotion of best practice, and provide certainty and clarity for cryptoasset financial service providers.
  • Self-Regulation

    Members support the Association’s self-regulatory Code of Conduct, including taking the appropriate measures to know their customers, act fairly, maintain operational standards, and prevent financial crime. Members commit to working together to further improve such standards for best practice.

Code of Conduct

  • UK Potential

    Members recognise the UK’s potential to become a leader in the use and development of cryptoassets through the pursuit of supportive policies and regulation, as appropriate.

  • Collaboration
    Through engagement and cooperation with political, regulatory, and legal bodies, members of the UK crypto community commit to working together to advance a supportive operating environment for the use and development of cryptoassets while improving and promoting best practices to minimise consumer risk and counter the illegitimate use of cryptoasset technology.
  • Consumer Trust
    Members commit to operating honestly and responsibly in their relationships with consumers, including the proactive disclosure of clear information on pricing, leverage and fees and any associated risks.
  • Transparency

    Communications with customers and prospective customers (including marketing and promotional material) must be fair, clear and not misleading – enabling informed decisions to be made, as required.

  • Structure
    Publicly available platform information must include details of: The full complaints procedure; the senior management team; the legal form of the business, the registered office address and date of launch; arrangements in case of business failure; and any material changes to the business which impacts customers.
  • Insight
    Members commit to undertaking appropriateness checks to ensure that investors are fit and proper to undertake transactions.
  • Security
    Members commit to ensuring the proactive management of IT infrastructure to prevent leakage, loss and damage of personal information, in accordance with data protection regulations.
  • Segregation
    Members commit to segregating fiat customer from company funds, and to ensuring customer funds are payable upon an insolvency event.
  • Reduce Risk
    For customer funds not being used for trading, liquidity & transfer purposes 90%+ of private keys should be held in cold storage.
  • Deterrence
    Where a customer is found to be acting in an illegal manner, members commit to working with the appropriate authorities to prevent, detect and deter such occurrences.
  • Due Diligence
    In line with anti-money laundering regulations, members commit to undertaking due diligence checks on platform users to protect against illegal activity, including the financing of terrorism.
  • Integrity

    To tackle market abuse, members commit to halting trading if suspicious activity is identified; to suspend and close any accounts engaging in such activity; and to notify the relevant authorities.