Regulation · Instrument · United Kingdom · Consultation paper · Financial Conduct Authority
FCA CP25/14: Stablecoin issuance and cryptoasset custody
Consultation on the conduct rules for issuing a qualifying stablecoin and safeguarding qualifying cryptoassets, including the proposed new CASS 16 (stablecoin backing assets) and CASS 17 (cryptoasset custody) chapters. Finalised in PS26/10 and PS26/11.
Consultation closed · part of UK cryptoasset regulatory regime (FSMA cryptoasset activities)
Key points
- Proposed rules and guidance for issuing qualifying stablecoins and for safeguarding qualifying cryptoassets, so that regulated stablecoins hold their value and holders get clear information on backing assets.[1]
- Introduced CASS 16 for stablecoin backing assets and CASS 17 for client cryptoassets held by custodians.[2]
Timeline
- 28 May 2025 · ConsultationCP25/14 published.[1]
- 31 Jul 2025 · ConsultationConsultation closed.[1]
- 30 Jun 2026 · FinalFinal rules published (PS26/10, PS26/11); they apply from 25 October 2027.[1]
Deployments operating under it
None recorded with a source yet.
Sources
- [1]CP25/14: Stablecoin issuance and cryptoasset custody — Financial Conduct Authority, 28 May 2025. Accessed 12 Oct 2026.A
- [2]Cryptoasset regime: final rules and guidance (policy statements PS26/9 to PS26/13) — Financial Conduct Authority, 30 Jun 2026. Accessed 12 Oct 2026.A