GDF & CCI Response to FCA CP25/40: Regulating cryptoasset activities
GDF and CCI are the two leading global members’ associations representing firms delivering crypto and digital assets solutions. Our members span the digital asset ecosystem and include the leading global crypto exchanges, stablecoin issuers, digital asset Financial Market Infrastructure providers, innovators, and investors operating in the global financial services sector.
Together, our members share the goal of encouraging the responsible global regulation of crypto and digital assets to unlock economic potential, improve lives, foster financial inclusion, protect security, and disrupt illicit activity.
GDF and CCI welcome CP25/40 as a significant and positive step towards establishing a comprehensive regulatory framework for cryptoasset activities in the UK. In particular, compared with DP25/1, the proposals demonstrate meaningful progress in terms of clarity, calibration and engagement with industry feedback.
Overall, we believe CP25/40 provides a strong foundation for a robust UK cryptoasset regime. With targeted refinements, particularly around cross-border liquidity, execution and transparency calibration, transitional arrangements, and cost assumptions, the framework can better achieve its objectives of consumer protection, market integrity, effective competition and international competitiveness, while reinforcing the UK’s position as a leading global hub for responsible digital asset innovation.
Submitted 12/02/26