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Key facts about the new UK draft rules for stablecoins and crypto custody

UK BTC Cryptocurrency wallet with passport
Photo: Craig Hastings/Getty Images

Etay Katz | Ashurst, Sid Ulker | Ashurst, Jamie Jefferson Ng | Ashurst+1

7 min read
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Proposals to bring fiat-referenced stablecoins into the UK regulatory perimeter including custody and a new prudential regime.

On May 28, 2025 the FCA released two consultation papers – CP25/14 (on stablecoin issuance and crypto custody) and CP25/15 (on prudential requirements for crypto firms) – as the latest step toward a comprehensive UK cryptoasset regime (the CPs). These proposals build on HM Treasury’s draft legislation (April 2025) to bring fiat-referencedThe UK’s

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