The UK Financial Conduct Authority (FCA) has announced the next phase of its regulatory approach to cryptoassets and stablecoins. In a keynote speech on 26 November 2025, FCA Payments Director David Geale outlined the authority’s intention to foster a trusted, competitive, and innovative environment for crypto-related activities. The FCA has now launched a comprehensive consultation addressing new requirements for stablecoin issuers, asset custody obligations, and proportionate governance and capital frameworks. The necessary legislation is expected to be enacted in 2026 (source).
Key Points from the Announcement
- The FCA is consulting on rules for stablecoin issuance, custodial responsibilities, and capital requirements.
- This move aims to create a safe, yet innovative, market for cryptoassets and stablecoins in the UK.
- Over 90% of UK residents are aware of crypto; approximately seven million have invested in or held cryptoassets.
- The FCA continues to supervise cryptoasset firms with a focus on anti-money laundering, counter-terrorist financing, and marketing standards.
In his speech, Geale emphasised that regulatory efforts will balance consumer protection with opportunities for industry growth. He stated: “Because, contrary to some commentary, we want our regulation to facilitate growth, not stifle it.” He added, “If that’s the kind of market you want to run, to you I say: we are open for business.”
| Focus Area | Details | Timeline |
|---|---|---|
| Consultation on Regulation | Stablecoin issuance, cryptoassets custody, capital, and governance standards | Open as of Nov 2025 |
| Industry Guidance | Firms are encouraged to adjust systems ahead of incoming rules | Throughout 2025 |
| Expected Legislation | Implementation of new regulatory framework | 2026 |
The FCA’s ongoing supervision of the sector prioritises financial crime prevention and clear consumer communications. For those interested in how payment methods and regulations affect withdrawal processes at UK casinos, further information on crypto and e-wallet options is available below.
