CP25/14: Stablecoin issuance and cryptoasset custody is the Financial Conduct Authority’s proposed rule package for UK firms issuing qualifying stablecoins and safeguarding qualifying cryptoassets. The FCA opened the consultation on 28 May 2025 and closed it on 31 July 2025. As of 19 June 2026, the proposals are not final: the FCA says it intends to publish feedback and a Policy Statement in summer 2026. The statutory perimeter has, however, been established by the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, whose substantive provisions are scheduled to commence on 25 October 2027.

Scope and legal foundation

The 2026 Regulations create regulated activities for issuing a qualifying stablecoin and safeguarding…