Key Takeaways from FCA Consultation Paper 25/42 – A Prudential Regime for Cryptoasset Firms

On 16 December 2025, the Financial Conduct Authority (“FCA”) published Consultation Paper 25/42 on a prudential regime for cryptoasset firms (the “Consultation Paper”). This paper is one of three consultation papers released by the FCA as part of the UK’s cryptoasset regulatory framework. This Consultation Paper follows an earlier Consultation Paper (“CP 25/15”), as part of the FCA’s efforts to obtain industry views on key matters before publishing a more complete set of rules to consult on….
By: Hogan Lovells