Crypto and Digital Assets APPG welcomes publication of FCA’s final cryptoasset rules
The Crypto and Digital Assets All-Party Parliamentary Group (APPG) has welcomed the publication of the Financial Conduct Authority’s (FCA) final rules and guidance for the UK’s new cryptoasset regime.
The final rules set out what firms will need to do to carry out regulated cryptoasset activities in the UK and establish, for the first time, a comprehensive regulatory framework for the sector. They cover areas including consumer protection, governance, prudential requirements, market abuse, operational resilience and stablecoin issuance, providing greater clarity for firms preparing for regulation.
The publication of the rules marks a significant milestone for the UK’s crypto and digital assets sector following almost three years of consultation and policy development. It also represents the biggest step yet towards implementing the Government’s ambition of making the UK a global hub for cryptoassets and digital finance.
The focus now turns to implementation, with firms expected to begin preparing for FCA authorisation ahead of the new regime coming into force in October 2027.
Welcoming the announcement, APPG Co-Chairs Gurinder Singh Josan CBE MP and Lord Vaizey of Didcot said:
“The FCA’s announcement is a landmark moment for the UK. We warmly welcome the publication of the FCA’s final cryptoasset rules, which represent the biggest step yet towards making the UK a world leader in digital assets.”
“More than four years ago, the Government set out its ambition to make the UK a global hub for cryptoassets and digital finance. This latest announcement brings us much closer to turning that ambition into reality. It provides the clarity that businesses have been calling for, while giving the 4.5 million adults in the UK who now own cryptoassets stronger protections and greater confidence in the market.”
“Throughout this process, the APPG has consistently argued that the UK needs a regulatory framework that is robust, proportionate and supports innovation. We’ve heard directly from businesses, investors and other stakeholders that clear, predictable rules are essential if the UK is to attract investment, encourage innovation and remain internationally competitive. We also welcome the FCA’s willingness to engage with industry and respond constructively to feedback throughout the development of these rules.”
“This announcement is a major milestone, but it is not the finish line. As the UK moves towards implementation, the APPG will continue working with Government, regulators and industry to support a successful transition, helping to ensure the UK has a regulatory framework that protects consumers, gives firms the confidence to invest and grow, and cements the UK’s position as one of the world’s leading centres for digital assets.”
As implementation begins, the APPG will continue to work closely with Parliament, Government, regulators and industry to support the successful delivery of the new regime. The APPG’s ongoing focus will be on ensuring the framework is implemented effectively, that firms and regulators are ready for the transition, and that the UK continues to develop a regulatory environment that protects consumers while supporting innovation, investment and long-term growth across the digital assets sector.
To find out more about the APPG or to get involved, please get in touch via the contact form on the APPG page.
