GDF & CCI Joint Feedback on Draft Statutory Instrument The Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025, and accompanying Policy Note Future financial services regulatory regime for cryptoassets (regulated activities)
Overall, GDF and CCI are supportive of the overarching policy aims of the Draft Statutory Instrument (‘SI’) on the future financial services regulatory regime for cryptoassets (regulated activities). We are heartened by the UK Government’s commitment to continuing to drive innovation for the future of financial services and agree that establishing a robust regime for cryptoassets will be critical for the UK to be a hub for digital growth.
This legislation marks a pivotal moment in the UK’s journey towards becoming a global leader in the digital economy. As the architecture of tomorrow’s digital financial markets is being built, distributed ledger technologies – powered by cryptoassets – increasingly form the rails of the infrastructure that will underpin everything from payments to capital markets activity. A clear, proportionate, and forward- looking regulatory framework will be essential to ensuring that this innovation can thrive in a safe, trusted environment.
Realising the full potential of this opportunity for the UK will depend not only on regulating the marketplaces in which cryptoassets are traded, but also on the extent to which the outcome of this new regulatory regime is a healthy, competitive market in the cryptoassets that support the underlying infrastructure, particularly public blockchain networks. These markets are essential to incentivising innovation, securing decentralised infrastructure, and ensuring open access to the technologies that will underpin the next generation of financial services.
In this context, it is crucial that the core legislative architecture is carefully constructed to enable proportionate and targeted regulation that can evolve with technological innovations. This will in turn allow the necessary flexibility for regulators to tailor rules and supervision in line with actual risks and market developments, giving firms the clarity they need to continue to invest, build and grow in the UK.
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