January 26, 2026

New UK crypto regime: proposed application of the FCA Handbook and prudential rules

Elias Allahyari, Nick Bradbury, Louise Bralsford, Rory Copeland, Thomas Donegan, Paul Edwards, Nikki Johnstone, Rhiannon Jones, Anna Lewis-Martinez, Bob Penn, Jack Prettejohn, Ben Regnard-Weinrabe

A&O Shearman

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A&O Shearman

The countdown to the UK’s new crypto regime has begun. On December 15, 2025, the UK published finalised regulations with licensing and market abuse regimes for the crypto market, effective from October 25, 2027.

This second webinar of three addressed the FCA’s consultation papers on: (i) the application of the FCA Handbook to cryptoasset activities: and (ii) prudential rules for cryptoasset activities.

The FCA published the consultation paper on the proposed application of the FCA Handbook to cryptoasset activities (CP 25/25) in September 2025 and published the consultation paper covering prudential rules for platforms, staking and intermediaries (CP 25/42) on December 15, 2025, which builds on their past consultation on a prudential regime for stablecoin issuers and custodians (CP 25/15).

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