On 16 December 2025, the UK Financial Conduct Authority (FCA) published its proposals relating to the prudential framework that will apply to firms authorised to carry on cryptoasset-related regulated activities under the new UK cryptoassets regulatory framework. We previously published our briefing summarising the final cryptoassets legislation published by the UK Treasury, which is available here.
The proposed prudential rules build on the FCA's earlier proposals in CP25/15 and will determine the financial resources and risk management systems that authorised cryptoasset firms will need to maintain as a condition of their continued authorisation.
In this briefing, Travers Smith's Fintech, Market Infrastructure and Payments team give their view on the latest proposals and summarise the key elements of the FCA's proposed prudential new regime.
