Key Highlights
- FCA admits RegTech firm Eunice into its sandbox to test new crypto-disclosure templates for UK markets.
- The move follows September plans to tailor crypto rules while tightening cyber-risk oversight.
- The SFO has opened a separate $28M fraud probe into Basis Markets, reflecting rising enforcement.
The UK’s Financial Conduct Authority (FCA) has taken another step toward overhauling the country’s crypto rulebook, admitting RegTech platform Eunice into its Regulatory Sandbox to test new industry-led disclosure standards. The initiative aims to address one of the regulator’s most persistent concerns: the lack of clear, consistent information for retail investors buying digital assets.
As per the report, Eunice, a regulatory technology company that works with major firms including Coinbase, Crypto.com, and Kraken, will trial templates designed to standardize how crypto projects present key risks and product details.
These templates were developed by a working group convened by Eunice and will now be stress-tested under FCA oversight. The regulator says insights from the experiment will guide its final crypto disclosure rules, due in 2026 as part of its broader Crypto Roadmap.
More flexible environment
The move builds on policy signals from September, when the FCA announced plans to relax certain traditional finance requirements for crypto firms while tightening rules around cyber risks and operational resilience.
At the time, the regulator acknowledged that digital-asset markets behave differently from banks or brokerages, and said a more tailored approach was needed. But it also made clear that crypto would be fully brought into the UK regulatory perimeter next year.
Today’s sandbox move reflects the FCA’s push for innovation with tighter standards. The regulator says firms can apply year-round to test similar transparency tools.
Rising concerns
The collaboration also lands in a month of rising UK enforcement activity. Just days earlier, the Serious Fraud Office (SFO) launched its first major crypto case, opening a criminal investigation into Basis Markets, a project accused of stealing $28 million from investors.
Raids in London and West Yorkshire led to two arrests, and authorities have issued an urgent call for victims to come forward.
What’s next
While the FCA’s initiative focuses on systemic rule-setting rather than criminal activity, both developments show a national pivot toward tighter oversight after years of fragmented guidance.
As crypto products expand deeper into consumer finance, UK regulators appear intent on preventing misuse while allowing compliant firms room to build.
Also read: Kraken’s Krak Card Launches in UK and EU, Backed by MiCAR License
