The Financial Conduct Authority has said that introducing regulations on advice regarding cryptocurrencies may be considered in the future.
Today (16 December), the regulator launched a consultation on its market regulation plan.
FCA representatives told a press conference that the regulator plans to take a similar approach to traditional finance, with rules expected to be introduced in 2027.
Areas being discussed by the FCA include listing rules for crypto assets and the information that must be provided to investors, standards for trading platforms, and requirements for brokers and other intermediaries to act responsibly.
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The FCA said that while advice on virtual currencies is not currently subject to Treasury legislation, the regulator has not ruled out considering it in the future.
Jane Moore, head of payments and digital assets at the FCA, said: “We are consulting on a regime for activities set out in the virtual currency statutory instrument which does not currently include advice regarding virtual currencies.”
“Therefore, it is not part of the regime that we are currently discussing.”
But Moore added: “That’s definitely something we’ll look at and see how the market develops.”
Matthew Long, director of payments and digital assets at the FCA, said he expected regulations around that could be considered by the Treasury in the future.
He said: “There are many things we will continue to consider when implementing this system.
“It would probably be in that group, but it’s not legislated at this point.”
Long said today’s publication of the proposed changes marks an important step in the FCA’s “ongoing efforts to shape the virtual currency market”.
He called the system covering lending and borrowing “the most comprehensive in the world.”
“We apply the same principles as traditional finance,” Long says.
He further added: “However, we recognize that some aspects of cryptocurrencies are different, which is why we have adapted our approach to meet these needs, which we need to clarify here.
“Our aim is not to remove all risk, but to ensure that those who invest in cryptocurrencies do so with the necessary relevant facts.”
The consultation on the new virtual currency regime will end on February 12, 2026.
tara.o’connor@ft.com
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