🎧 HSF Podcast: FSR Podcast: Decoding the FCA crypto capital rules

Marina Reason and Rakshi Kiran examine FCA consultation paper 25/15, which proposes a brand-new prudential regime for cryptoasset firms, including rules on regulatory capital. This is the first sight of a dedicated prudential framework tailored specifically for crypto firms in the UK. CP25/15 is designed to be read alongside a related FCA consultation paper (CP25/14), which proposes rules and guidance on stablecoin issuance and cryptoasset custody. We unpacked the FCA's proposals on issuing qualifying stablecoins in our recent podcast "Decrypting the FCA stablecoin rules" - https://soundcloud.com/hsfkramer/fsr-podcast-decrypting-the-fca-stablecoin-rules - and we will be considering the FCA's proposals on crypto custody in a future podcast. These FCA consultations followed publication by HM Treasury of near-final draft legislation to create new regulated activities for cryptoassets, and an FCA discussion paper (DP25/1) on regulating cryptoassets, We discussed these developments in our…