The Financial Conduct Authority (FCA) has confirmed it is seeking feedback on plans to improve the transparency of the UK’s crypto markets.

Clear crypto regulation would improve the integrity of the UK’s crypto markets, the FCA said, as well as help protect people and support the UK’s economic growth.

The FCA has launched a new discussion paper which is part of a part of a series of publications designed to help the regulator to shape the UK’s crypto regime.

It sets out proposals for firms to introduce strong controls that prevent harm and has also suggested that certain firms, like authorised crypto trading platforms, should share information with each other to help stop suspected market abuse. The FCA said this would reduce fraud and help promote good practices in the sector.

The discussion paper also reflects insights gained from a series of FCA-led crypto roundtables it held with the industry earlier this year.

“We encourage industry to share its expertise and help us shape the rules,” the FCA said. “We want industry to take the lead in developing new ways of disclosing important information to make sure people understand the risks before purchasing crypto.

“We want to develop a crypto regime that is fair, balanced and proportionate for all. We need input from the Government, our international partners, industry and consumers to help us get the future rules right.”

Firms have until 14 March 2025 to give the FCA their feedback.

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