The FCA said the proposals and subsequent consultation will continue its progress towards an 'open, sustainable and competitive crypto market that people can trust'.
The Financial Conduct Authority has launched another cryptoasset consultation today (23 January) as part of its “final step” to setting the UK’s upcoming rules.
It explained it is looking for specific feedback on how Consumer Duty will apply to cryptoasset firms and how it can "deliver good outcomes for retail customers", as well as its proposed approach to international cryptoasset firms.
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The FCA said the proposals and subsequent consultation will continue its progress towards an "open, sustainable and competitive crypto market that people can trust".
While the Duty can set "appropriate standards" for crypto companies, the regulator admitted that risks remain, but it is not the FCA's role to "get rid of all risk" but to help crypto investors understand those risks.
"While we continue to develop our cryptoasset regime at pace following the publication of draft legislation by the government, people should remember crypto is currently largely unregulated – except for financial promotions and financial crime purposes," the FCA warned.
"We have made significant progress in delivering our crypto roadmap and are helping firms to meet our standards and get ready for when the gateway opens in September 2026."
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Firms and industry players will be able to respond to the latest consultation until 12 March 2026.
The FCA has been looking for feedback on crypto since May last year and previous consultations in September 2025 highlighted Consumer Duty and how it can apply to the crypto sector, along with the management of complaints and whether the Financial Ombudsman Service needed to be involved.
Earlier this month, the regulator revealed that its cryptoasset regulation framework is expected to come into force from 25 October 2027.
