On December 16, 2025, the Financial Conduct Authority (FCA) published a package of consultation papers outlining the proposed regulatory framework for the UK crypto-asset market. The UK regulator aims to create an open and competitive sector while ensuring a high level of consumer protection and financial stability.
As part of the package, three separate consultation papers were published, covering, among others, the following areas:
- CP25/40 – outlining proposed rules for trading platforms, intermediaries, cryptoasset lending and borrowing, staking, and decentralized finance (DeFi);
- CP25/41 – presenting proposed rules regarding the prohibition of market abuse (including market manipulation and unlawful disclosure of inside information) and the admission of crypto-assets to trading;
- CP25/42 – setting out proposed prudential requirements for entities conducting cryptoasset-related activities in the UK.
The full text of the consultation papers can be found at the following link:
https://www.fca.org.uk/news/press-releases/fca-seeks-feedback-proposals-uk-crypto-rules