Policy paper

Regulatory regime for cryptoassets (regulated activities) – Draft SI and Policy Note

A draft of forthcoming statutory provisions to create new regulated activities for cryptoassets, and an explainer document detailing the intended policy outcomes of these provisions.

• From: HM Treasury
• Published: 29 April 2025

Documents

The Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025 - Draft SI

PDF, 572 KB, 27 pages

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Future financial services regulatory regime for cryptoassets (regulated activities) - Policy Note

PDF, 391 KB, 19 pages

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Future financial services regulatory regime for cryptoassets (regulated activities) - Policy Note (Accessible)

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Details

In October 2023, HM Treasury published detailed proposals for creating a UK financial services regulatory regime for cryptoassets, including stablecoin.

On 21 November 2024, the government confirmed that it will proceed with introducing this regime, broadly in line with the previously published proposals.

This will see the creation of new regulated activities such as operating a cryptoasset trading exchange and stablecoin issuance, as well as market abuse and admissions and disclosures regimes.

The government is now publishing draft statutory provisions associated with the new regulated activities for cryptoassets, accompanied by an explanatory policy note. 

The government will publish statutory provisions for the market abuse and admissions and disclosures regimes in due course.

HM Treasury welcomes any technical comments on this draft SI by 23 May 2025.

Published 29 April 2025