The United Kingdom’s Financial Conduct Authority (FCA) has approved regulatory technology firm Eunice to run experiments in its sandbox, offering one of the clearest signals yet of how the country plans to structure its upcoming crypto rulebook.

Testing standardized disclosure templates

On Wednesday, the FCA announced that Eunice will test a set of standardized crypto disclosure templates in cooperation with major exchanges. The goal is to assess whether these templates strengthen transparency when applied in real-world environments.

The regulator added that its sandbox remains open for applications. “We encourage any firm to apply if they wish to test a similar solution that could inform our regulatory approach to crypto assets,” said Colin Payne, head of innovation at the FCA.

Eunice co-founder and CEO Yi Luo said the sandbox creates a space where regulators and industry experts can work together to reinforce the foundations of the UK’s crypto markets. She noted that the project aims to boost integrity and transparency at a time when institutional involvement is increasing.

CARF shaping the UK's regulatory shift

The pilot links directly to the FCA’s broader policy agenda. According to the regulator, the disclosure templates were created after last year’s Admissions and Disclosures Discussion Paper, which invited the industry to contribute technical expertise and guide early thinking on future rules.

The initiative comes as the UK moves toward tighter oversight of cryptocurrencies, coinciding with the adoption of the OECD’s Crypto-Asset Reporting Framework (CARF). The framework aims to close gaps in tax transparency across the crypto industry. HM Revenue & Customs (HMRC) has updated its guidelines to incorporate CARF standards, scheduled to take effect on January 1, 2026.

The UK’s rollout closely follows the OECD blueprint with minor local adjustments. Under CARF, service providers—including exchanges and brokers—must collect and report user information such as tax residency and transaction data to HMRC. These reports will be shared across borders, strengthening global tax enforcement. Updated HMRC guidance warns of consequences for insufficient due diligence, poor record-keeping, or late reporting.

CARF obligations apply to exchanges, brokers, and platforms facilitating crypto transactions, while self-custody wallets and non-commercial sites remain outside the scope. Reportable activities include crypto-to-fiat conversions, wallet-to-wallet transfers, and retail payments above $50,000. Central bank digital currencies, certain types of e-money, and collectible-only NFTs are excluded. For now, the UK has no plans to raise taxes on digital assets.

Sources:

https://www.fca.org.uk/news/press-releases/fca-collaborates-industry-help-shape-future-uks-crypto-markets

https://www.tradingview.com/news/cointelegraph:b63ec65d5094b:0-fca-trials-crypto-transparency-templates-as-uk-shapes-new-rulebook/

https://www.bitget.com/news/detail/12560605084317