Regulation · Instrument · United Kingdom · Regulator rule or rulebook · Financial Conduct Authority
FCA Handbook CASS 16: Stablecoin backing assets
New CASS chapter on how issuers of UK qualifying stablecoins safeguard the assets backing their coins. Proposed in CP25/14 and finalised in PS26/10.
Final, not yet in force · effective 25 Oct 2027 · part of FCA Client Assets Sourcebook (CASS)
Key points
- Sets the approach to safeguarding stablecoin backing assets.[1]
- Up to a 5% excess may be held in the backing asset pool.[1]
Timeline
- 28 May 2025 · ConsultationProposed in CP25/14.[2]
- 30 Jun 2026 · FinalFinalised in PS26/10.[1]
- 25 Oct 2027 · In force · upcomingApplies from full commencement of the cryptoasset regime.[1]
Deployments operating under it
None recorded with a source yet.
Sources
- [1]Cryptoasset regime: final rules and guidance (policy statements PS26/9 to PS26/13) — Financial Conduct Authority, 30 Jun 2026. Accessed 12 Oct 2026.A
- [2]CP25/14: Stablecoin issuance and cryptoasset custody — Financial Conduct Authority, 28 May 2025. Accessed 12 Oct 2026.A