Regulatory Alerts2025-12-12
Added · Updated
A prudential regime for cryptoasset firms
The Financial Conduct Authority proposes new prudential requirements for cryptoasset firms authorized under the Cryptoasset Regulations, covering activities such as operating a qualifying cryptoasset trading platform, staking, arranging deals, and dealing as agent or principal. The proposals establish permanent minimum requirements ranging from £75,000 to £750,000 depending on the specific regulated activity, alongside operational risk K-factor calculations based on metrics like client order values. The framework introduces two new sourcebooks, COREPRU and CRYPTOPRU, to replace bespoke group requirements and aligns with existing MiFID investment firm rules for firms subject to multiple regimes. This consultation paper seeks feedback on these draft rules by 12 February 2026.