Overview

• Crypto trading platforms could be exempted from four FCA principles, including integrity, due regard to customer interests, skill and diligence, and suitability obligations.
• Proposals include lighter requirements for senior managers and systems and controls, no cooling‑off periods for retail crypto purchases, and no outsourcing classification for permissionless blockchain arrangements.
• The FCA plans stricter operational resilience and cybersecurity obligations for crypto firms, citing large hacks such as the $1.5 billion Bybit theft.
• The regulator is not applying the Consumer Duty in this consultation and is seeking views on future Consumer Duty scope and on access to the Financial Ombudsman Service.
• Feedback is due on discussion topics by Oct. 15 and on wider proposals by Nov. 12, with final rules expected in 2026 to bring crypto firms under full UK oversight.