Key Takeaways
- The Financial Conduct Authority (FCA) is developing disclosure requirements for the crypto sector.
- New rules are expected in the second half of 2026.
- Coinbase, Kraken, and Crypto.com are participating in a sandbox that will inform the FCA’s rulemaking.
Coinbase and Kraken are among the crypto firms that will trial a new disclosure solution as part of the Financial Conduct Authority’s (FCA) regulatory sandbox.
Insights from the sandbox will help inform the FCA’s approach ahead of new crypto disclosure requirements, which are expected to arrive in 2026.
FCA Disclosure Requirements
The FCA began rolling out its new regime for crypto assets in October, introducing new rules for marketing crypto assets to retail investors in the U.K.
Meanwhile, the regulator continues to consult with the industry on disclosure requirements for licensed crypto exchanges in U.K., with new rules expected to be announced in the second half of 2026.
In the U.K., crypto firms are already required to disclose investment risks in any marketing materials and display a mandatory warning when new customers sign up.
However, the new regime will extend beyond standard risk warnings.
Because every exchange will have to provide information about each crypto asset it lists, the expanded disclosure regime could easily become a bureaucratic nightmare.
Anticipating the challenge, regulatory technology startup Eunice is developing a new solution intended to streamline disclosures and improve transparency.
Having been admitted into the FCA sandbox, Eunice is working with Coinbase, Crypto.com, and Kraken to develop standardized disclosure templates that will inform FCA rulemaking, the regulator said in a statement.
What Information Will Need to Be Disclosed?
The FCA is expected to require distinct disclosures for unbacked cryptocurrencies, fiat-backed stablecoins, and tokenized assets.
Issuers and exchanges will also need to be transparent about custody, fees, spreads, and the terms of any staking or yield products.
Documentation for each asset will need to identify risks, including those related to issuance and custody models.
Assuming the new regime resembles existing rules that apply to other asset classes, detailed disclosures will be complemented by a one-page fact sheet for investors.
Issuers of qualifying stablecoins will be subject to a separate regime being developed by the Bank of England.
As outlined in a recent report from the central bank, stablecoin disclosures will cover reserve-management transparency and redemption policies.
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James Morales is CCN’s blockchain and crypto policy reporter. He has been working in the news media since 2020, writing about topics such as payments, banking and financial technology. These days, he likes to explore the latest blockchain innovations and the evolving landscape of global crypto regulation.
With an educational background in social anthropology and media studies, James uses his platform as a journalist to explore how new technologies work, why they matter and how they might shape our future.
