UK FCA Nears Final Phase of Crypto Regulation Consultation
The UK Financial Conduct Authority is advancing toward finalizing its crypto regulatory framework, with a March 12 deadline for feedback on applying consumer duty rules to digital asset firms. The regulator clarified these standards aim to elevate industry practices—not erase crypto's inherent volatility.
An approval gateway for crypto businesses will open in September, ahead of October's enforcement deadline. The FCA's proposals extend traditional finance safeguards—conduct standards, asset protection, and dispute resolution—to the crypto sector, seeking to foster a trusted market without stifling innovation.
This culminates a process initiated last December to align crypto oversight with conventional financial rules. Firms must now demonstrate how they'll deliver fair outcomes under the consumer duty mandate, balancing transparency with crypto's risk-reward paradigm.
