The United Kingdom’s Financial Conduct Authority (FCA) has approved regulatory technology firm Eunice to run experiments in its regulatory sandbox, signaling how the UK intends to shape its forthcoming crypto rulebook. On Wednesday, the FCA announced that Eunice will trial standardized crypto disclosure templates with leading exchanges, including Coinbase, Crypto.com, and Kraken, to assess whether these templates enhance transparency when applied in real-world scenarios.
FCA’s head of innovation, emphasized that the sandbox remains open for applications from companies seeking to test similar solutions to inform regulatory approaches. By prioritizing practical trials over theoretical frameworks, the FCA is demonstrating that future crypto rules will be grounded in real-world feedback.
UK aims to boost transparency and integrity in crypto markets
Sandbox provides a collaborative environment for regulators and industry participants to strengthen the foundations of the UK’s crypto markets. Project seeks to improve transparency and integrity at a time when institutional participation in crypto is increasing.
The work around standardized disclosures is a key point of pride for Eunice, founded to bring integrity and clarity to digital assets as institutions enter the space. The pilot also stems from last year’s FCA Admissions and Disclosures Discussion Paper, which encouraged industry input on technical solutions to shape early thinking on crypto rules.
Sandbox trial aligns with FCA’s broader crypto roadmap
The Eunice experiment is part of the FCA’s multi-year Crypto Roadmap, which is expected to culminate in the UK’s final crypto rules in 2026. Over the past year, the regulator has implemented measures to provide clarity and consumer protection in the crypto sector, including tighter financial promotion rules, warnings to unlicensed exchanges, and guidance on market abuse risks for crypto assets.
Recent actions also indicate a more supportive approach: the FCA lifted its ban on crypto exchange-traded notes (ETNs) for retail investors on August 1, allowing UK consumers to access these products. On September 17, it opened a consultation on applying traditional finance rules, such as the Consumer Duty, to crypto companies to ensure good consumer outcomes.