Crypto firms in the U.K. face ‘higher bar’ under FCA’s final Consumer Duty proposal
The UK Financial Conduct Authority (FCA) on Friday reached the final step of its consultation on regulation for cryptocurrency firms and published a new consultation on how consumer duty would apply to this sector.
In its statement, the FCA asked for feedback with a March 12 deadline on further rules and how consumer duty should be applied to cryptoasset companies operating in the United Kingdom. It also said it aims to open the application gateway for cryptoasset permissions in September 2026.
The Consumer Duty is an FCA rule that sets a high bar for how financial firms treat retail customers. It requires companies to act in good faith, avoid foreseeable harm and help people achieve their financial goals. Firms must offer clear…
