The UK’s Financial Conduct Authority (FCA) reached the final stage of its consultation on the regulation of cryptocurrency companies on Friday and published a new consultation on how consumer obligations would apply to the sector.
In its statement, the FCA requested comments, until March 12, on further rules and how consumer obligations should be applied to crypto-asset companies operating in the UK. It also announced plans to open the application gateway for crypto-asset permissions in September 2026.
Consumer Duty is an FCA rule that sets a high bar for how financial firms treat their retail customers. It requires businesses to act in good faith, avoid foreseeable harm, and help people achieve their financial goals. Businesses need to provide clear information, fair pricing and support throughout the customer journey, not just at the point of sale.
In the case of businesses offering digital asset services, “the consumer duty sets appropriate standards for crypto businesses by ensuring they provide good outcomes for customers while helping them navigate their financial lives,” the FCA said.
The FCA said the rule is not intended to stifle innovation and warned that regulation does not remove all risks associated with financial services.
“We want a market where innovation can thrive, but where people understand the risks. But regulation cannot and should not try to eliminate all risks. We want those who want to invest in crypto to understand that risk,” the regulator said.
The guidance and consultations, the FCA added, are aimed at firms considering undertaking regulated activities in cryptoassets under legislation introduced by the Treasury in December 2025. They also apply to auditors, advisers, industry groups and consumer organisations.
Earlier this month, the FCA said that firms seeking to offer crypto-related services in the country should be authorized under new rules which will come into force in October 2027. It said this requirement also applies to firms already registered as crypto firms under its Money Laundering Regulations (MLR). The authority also granted Ripple, the developer and issuer of the XRP payment token, MLR registration.
The FCA began accepting applications in September, it said in a statement published on its website Thursday. The path to formal regulation of cryptocurrencies in the UK became clearer in late 2025 with Treasury legislation that extended existing financial rules to crypto companies.
