UK FCA finalises guidance on prudential regime for cryptoasset firms

The UK Financial Conduct Authority (FCA) has published finalised non-Handbook guidance relating to the overall risk assessment requirements under the new prudential framework for regulated cryptoasset firms. This includes:

• Non-Handbook guidance on COREPRU 7: Overall risk assessment (FG26/9), which sets out the FCA's expectations for firms on completing the overall risk assessment required under the new Core Prudential sourcebook (COREPRU). The guidance explains how firms can link their business model, risk appetite, financial resource planning, and wind-down planning into one coherent process. It considers how firms should complete the overall risk assessment, the documentation, and how the risk assessment interacts with the FCA's Supervisory Review and Evaluation Process.
• Non-Handbook Guidance on CRYPTOPRU 7: Overall risk assessment for CRYPTOPRU firms (FG26/10), which sets out the FCA's expectations for firms on completing the overall risk assessment required under the new Prudential sourcebook for CRYPTOPRU firms (CRYPTOPRU). It is intended to help firms develop their own assessments, calculate financial resource requirements, and understand the implications of their wind-down plans.

Both sets of guidance will come into force on 25 October 2027, when the new UK crypto regime comes into force.

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