GDF & CCI Response to FCA DP25/3: Expanding Consumer Access to Investments
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.
DP25/3 explores potential reforms to the UK retail investing framework, including issues relating to digital engagement practices, fractional investments, financial promotion rules, and broader questions around how regulation can support consumers in taking informed investment risk. In our response, GDF and CCI focus on those areas most directly relevant to cryptoassets and digital asset markets, particularly where regulatory design choices may have implications for regulatory coherence, proportionality, and consumer outcomes as the UK cryptoasset regime becomes fully operational.
Throughout our response, GDF and CCI focus on the importance of regulatory coherence as products move fully within the regulatory perimeter, avoiding duplicative or unnecessary frictions where firms are already subject to comprehensive governance, disclosure, and conduct requirements, and ensuring the framework remains anchored around consumer outcomes. We also highlight the importance of transparency of legal rights and structural risk in areas such as fractional and tokenised investments.
As the UK continues to position itself as a global digital finance hub, we believe it is important that the retail investing framework signals regulatory maturity, proportionality, and clarity. Aligning regulatory status, consumer protections, and marketing rules will support both consumer understanding and international competitiveness, while enabling consumers to take informed investment risk.
Submitted:
06/03/26