Regulatory Alerts2025-05-28
Added · Updated
CP25/14: Stablecoin issuance and cryptoasset custody
The Financial Conduct Authority proposes rules requiring qualifying stablecoin issuers to back stablecoins with secure, liquid assets held in a statutory trust with an unconnected third-party custodian, and to offer redemption of stablecoins for money by the end of the next business day. The proposals also require qualifying cryptoasset custodians to segregate client cryptoassets, hold them in trust, maintain accurate records, and implement adequate controls and governance. These requirements apply to firms authorized to carry out issuing qualifying stablecoin or safeguarding qualifying cryptoassets activities in the UK. The consultation period for these proposals ends on 31 July 2025.
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