FCA Cryptoasset Staking: What PS26/11 Sets Out
The phrase FCA cryptoasset staking is used here only to describe the final-policy material the Financial Conduct Authority published in PS26/11. It does not assess any person, firm, provider, product, service, asset, reward, return, arrangement, transaction, account or outcome.
PS26/11 forms part of the FCA’s June 2026 cryptoasset policy-statement package. This source-limited overview describes only the FCA’s published Chapter 8 material on staking and the FCA’s associated policy-statement overview.
Editorial scope: This is general public information based only on FCA publications. It does not assess a staking service, explain how to use one, direct any staking activity or provide investment, legal, tax, compliance or regulatory advice.
Related Crypto public-information context
This overview appears in OGM’s Crypto section. Readers seeking the separate FCA source material on safeguarding can also consult OGM’s CASS 17 public-information overview; these are Crypto-silo navigation links only and are not factual sources for this article.
FCA source boundary
This section sets the documented boundary for an FCA-focused account of staking using the FCA’s 30 June 2026 overview and PS26/11. The FCA overview dated 30 June 2026 identifies PS26/11, “Regulated cryptoasset activities,” as one of the final policy statements in that package. The material gathered here is limited to what those FCA publications record about cryptoasset-staking requirements.
Official FCA sources are cited for the purpose of this source-limited account. The principal overview is available as the FCA’s overview of its cryptoassets regime policy statements, and the primary staking discussion is in PS26/11: Regulated Cryptoasset Activities (PDF). These two documents are the only FCA sources directly referenced in this account.
The focus of this article part is the FCA’s published account of rules and guidance rather than independent interpretation. Where the FCA’s policy statement or overview describes a requirement or expectation, that description is attributed precisely to the FCA or to PS26/11.
What PS26/11 is
PS26/11 is the FCA’s titled policy statement concerning regulated cryptoasset activities within the wider set of documents published in the June 2026 package. The FCA overview identifies PS26/11 by name and includes it among the policy statements that summarise consultation feedback and set out final rules and guidance for cryptoasset activity regulation.
Chapter 8 of PS26/11 is the chapter that addresses staking directly. The PS26/11 text is the principal published source for the FCA’s final-policy discussion of staking matters and of the specific rule and guidance elements the FCA has chosen to proceed with in final policy.
For clarity, this article uses PS26/11 as the authoritative source for staking-specific description and uses the FCA overview as the contextual statement of where PS26/11 sits within the June 2026 policy-statement package. All references to staking requirements or clarifications are taken from those two FCA publications.
The June 2026 FCA policy-statement package
The FCA’s overview dated 30 June 2026 presents a package of policy statements addressing regulated cryptoasset activities and related topics. The overview describes the series as setting out final rules and guidance following consultation and identifies PS26/11 among those final policy statements.
The FCA overview identifies PS26/11 among the final policy statements and PS26/11 includes a chapter headed “Staking.” The overview describes the series as setting out final rules and guidance following consultation.
The June 2026 overview identifies PS26/11 among the FCA’s final policy statements.
Chapter 8 as the published staking material
PS26/11 Chapter 8 is titled “Staking.” The chapter’s final-policy discussion describes the FCA’s retained approach to strengthening retail consumer understanding in relation to staking services. PS26/11 says that, before a staking service begins, authorised cryptoasset firms must give retail clients information on the firm and service, provide key contractual terms and obtain express prior consent to those terms; the discussion identifies risks such as slashing and other operational disruptions as matters for disclosure.
PS26/11 also explains the scope of the consent requirement for retail clients. The policy statement says final rules do not require information and consent to be obtained before each separate instance of staking a retail client’s cryptoassets. PS26/11 says firms are not required to provide information and obtain consent before each separate instance of staking a retail client’s cryptoassets.
The chapter further addresses auto-staking models in the FCA’s final-policy discussion. PS26/11 says consent can cover existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions, but that rules do not permit blanket consent for current or future holdings of unspecified cryptoassets. PS26/11 also describes required elements of auto-staking terms, including stating that a firm may stake future holdings of a specified cryptoasset and how the service can be cancelled.
Activity-specific context in the FCA overview
The FCA overview identifies PS26/11 among the final policy statements and says the series summarises consultation feedback and sets out final rules and guidance. It identifies PS26/11 as one of the final policy statements in the package. PS26/11 includes a chapter headed “Staking.”
PS26/11 maintains an approach to retail consumer understanding that includes information, key contractual terms and express prior consent for services involving retail clients. PS26/11 addresses record keeping in the staking chapter.
As an overview document, the FCA’s June 2026 statement is used here to indicate the activity-specific framing for staking within PS26/11. The overview states that the series sets out final rules and guidance.
Final policy positions in PS26/11
PS26/11 sets out a number of final-policy positions that the FCA says authorised cryptoasset firms must follow in relation to retail clients using staking services. PS26/11 describes an at-least-annual notification after original consent and says firms must notify retail clients of material changes to key terms in good time. The policy statement describes these elements as applying to services involving retail clients.
PS26/11 describes an at-least-annual notification requirement for all staking-service models. It says firms are required, at least every 12 months after original consent, to notify retail clients about the staking service they are using. The described notification content includes the amount currently staked, total rewards earned, total fees and commission charged, and the most recent terms of service. PS26/11 also says firms must notify retail clients of material changes to key terms in good time, including changes to fees or the duration for which cryptoassets will be locked up.
On the specific matter of auto-staking, PS26/11 says terms must state that a firm may stake a client’s future holdings of a specified cryptoasset and must set out how the service can be cancelled. PS26/11 says that express prior consent to those terms is required. This account relies on the FCA overview and PS26/11.
What this source-limited overview does not decide
This article part is limited to the FCA’s published statements and does not make regulatory determinations. This account does not decide the regulatory status, scope or treatment of any arrangement. It therefore refrains from resolving whether a particular activity falls inside or outside the regime beyond what the FCA expressly states in PS26/11 and the overview.
PS26/11 proceeds with proposed record-keeping requirements as part of the final policy. The policy statement says the FCA will require authorised cryptoasset firms to retain records for five years, with exceptions where certain records must be kept for the duration of a client relationship when that is longer. PS26/11 says the amended requirements require firms to keep records in respect of clients whose identity is known to the firm and to keep records of the type and amount of cryptoassets provided to clients as part of a staking service.
The FCA also states that CASS 17 safeguarding record-keeping requirements apply where cryptoasset safeguarding takes place, and PS26/11 says that its staking requirements do not prescribe specific on- or off-chain methods for implementing record keeping. PS26/11 clarifies record‑keeping requirements, including in the context of liquid‑staking, by requiring records for clients whose identity is known and records of the type and amount of cryptoassets provided. This article does not assess risk beyond what is set out in PS26/11 and the FCA overview. This source-limited account reports that published FCA statement without making any individual assessment or recommendation.
The FCA’s consumer-understanding framing
The FCA’s overview, dated 30 June 2026, identifies PS26/11, “Regulated cryptoasset activities,” as one of its final policy statements. That overview frames the policy-series purpose as summarising consultation feedback and setting final rules and guidance. PS26/11 describes an approach to strengthening retail consumer understanding in relation to staking services.
PS26/11 maintains an approach to retail consumer understanding. PS26/11 states that, before a staking service begins, authorised cryptoasset firms must give retail clients information on the firm and service, provide the key contractual terms, and obtain express prior consent to those terms. The phrase FCA cryptoasset staking is used here as an editorial focus phrase for the FCA’s published topic area.
This article reports only FCA statements in PS26/11 and the overview. PS26/11 maintains an approach to retail client understanding that includes information, key contractual terms and express prior consent. This article does not assess any individual situation.
Information before a staking service starts
PS26/11 Chapter 8 is headed “Staking” and, in its final-policy discussion, sets out specific information and consent expectations that apply where retail clients are involved. The FCA says that, before a staking service begins, authorised cryptoasset firms must give retail clients information on the firm and the service. The regulator explicitly includes the need to describe risks such as slashing or other operational disruptions.
The PS26/11 description links the pre-service information requirement to the delivery of key contractual terms and to the obtaining of express prior consent to those terms. The FCA says it is maintaining an overarching approach to strengthening retail consumer understanding, including disclosures, contractual terms and client consent. The policy-statement discussion makes clear that these points apply to services involving retail clients under the staking chapter.
Key contractual terms in the FCA description
PS26/11 describes the requirement for firms to provide retail clients with the key contractual terms of a staking service. PS26/11 requires firms to provide retail clients with the key contractual terms of a staking service. PS26/11 says the notification should include the most recent terms of service.
The policy statement also requires that firms notify retail clients of material changes to key terms in good time. PS26/11 specifically identifies fees and the duration for which cryptoassets will be locked up as examples of key terms that, if materially changed, should be communicated. Where auto-staking models are used, PS26/11 says terms must state that a firm may stake a client’s future holdings of a specified cryptoasset and must explain how the service can be cancelled; express prior consent to those terms is required.
Express prior consent in the published approach
PS26/11 says authorised cryptoasset firms must obtain a retail client’s express prior consent to the key contractual terms before a staking service begins. The FCA says authorised cryptoasset firms must obtain a retail client’s express prior consent to the key contractual terms before a staking service begins. PS26/11 says authorised cryptoasset firms must obtain a retail client’s express prior consent to the key contractual terms before a staking service begins.
At the same time, PS26/11 states that firms are not required to provide information and obtain consent before each separate instance of staking a retail client’s cryptoassets. PS26/11 says consent can cover existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions. PS26/11 says firms can obtain consent to stake existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions. The regulator also says the rules do not permit blanket consent for current or future holdings of unspecified cryptoassets.
For auto-staking specifically, PS26/11 requires that the applicable terms make clear that the firm may stake future holdings of a specified cryptoasset and must explain how the service can be cancelled. The regulator says express prior consent to those terms is required before the auto-staking service commences for a retail client.
Retail-client scope in Chapter 8
Chapter 8 of PS26/11 frames the measures described as applying to services involving retail clients. PS26/11 describes information, key contractual terms and express prior consent in relation to staking services involving retail clients. PS26/11 includes a chapter headed “Staking” that addresses services involving retail clients.
PS26/11 requires firms to keep records in respect of clients whose identity is known to the firm. The policy statement says firms are required to keep records in respect of clients whose identity is known to the firm, and that firms must keep records of the type and amount of cryptoassets provided to clients as part of a staking service. PS26/11 requires firms to keep records of the type and amount of cryptoassets provided to clients as part of a staking service.
The FCA also notes the interface with existing safeguarding requirements. PS26/11 says CASS 17 safeguarding record-keeping requirements apply where cryptoasset safeguarding also takes place. PS26/11 says its staking requirements do not prescribe the specific methods, including on‑ or off‑chain methods, that firms use to implement record‑keeping requirements.
Individual staking instances in the final policy
PS26/11 expressly states that the final rules do not require information and consent before each separate instance of staking a retail client’s cryptoassets. That position is set out alongside the broader prescriptive elements that apply before a staking service starts. PS26/11 states that firms are not required to provide information and obtain consent before each separate instance of staking a retail client’s cryptoassets.
PS26/11 also requires firms, for all staking-service models, to notify retail clients at least every 12 months after original consent about the staking service they are using. The policy statement describes the content of that annual notification, saying it should include the amount currently staked, total rewards earned, total fees and commission charged, and the most recent terms of service. PS26/11 requires, at least every 12 months after original consent, notification to retail clients about the staking service they are using.
In addition to the annual communications, PS26/11 says firms must notify retail clients of material changes to key terms in good time. The policy-statement discussion highlights fees and the duration for which cryptoassets will be locked up as examples of term changes that require timely notification. PS26/11 says firms must notify retail clients of material changes to key terms in good time.
Why this overview does not assess a service
This article section reports the content of the FCA overview and the PS26/11 policy statement only. It does not determine the regulatory status, scope or treatment of any arrangement, and it does not assess, compare or imply anything about any person, firm, provider, product, service, asset, token, reward, return, yield, arrangement, transaction, account or outcome. This overview does not attempt to resolve perimeter issues.
PS26/11 says it will proceed with proposed record-keeping requirements for authorised cryptoasset firms, including a five-year retention period, with exceptions where certain records must be kept for the duration of a client relationship where that is longer. The policy statement also makes clear that the staking requirements do not prescribe specific on- or off-chain methods to implement record keeping. This article describes the FCA’s final-policy text and does not provide operational guidance.
Official FCA sources: FCA overview of our cryptoassets regime policy statements (30 June 2026) and PS26/11: Regulated cryptoasset activities (policy statement PDF).
Auto-staking in PS26/11
PS26/11 discusses auto‑staking within Chapter 8 (“Staking”). PS26/11 includes a chapter headed “Staking.” PS26/11 discusses auto‑staking within Chapter 8, which maintains an approach to retail consumer understanding.
PS26/11 says consent can cover existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions. PS26/11 says consent can cover existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions. It also makes clear that the rules do not permit blanket consent encompassing unspecified cryptoassets. PS26/11 says consent cannot be a blanket consent for current or future holdings of unspecified cryptoassets.
The FCA says that, for auto-staking arrangements, terms must make clear the firm’s ability to stake future holdings of a specified cryptoasset and must explain how the service can be cancelled. The policy statement attributes express prior consent to those terms as a required element before the staking service begins. PS26/11 says terms for auto-staking must state that a firm may stake future holdings of a specified cryptoasset and explain how the service can be cancelled, and that express prior consent to those terms is required.
Specified cryptoassets and consent wording
PS26/11 draws a distinction between specified cryptoassets and unspecified holdings when it sets rules for consent. The policy statement says firms may obtain consent covering existing and future holdings only when the holdings are of a specified cryptoasset or a list of specified cryptoassets. Consent that attempts to cover current or future holdings of unspecified cryptoassets is not permitted under the published approach.
The FCA says express prior consent is required to the contractual terms governing a staking service, and that this requirement applies to retail clients. PS26/11 says that, before a staking service begins, authorised cryptoasset firms must give retail clients information on the firm and service, including risks such as slashing or other operational disruptions, provide the key contractual terms, and obtain express prior consent to those terms. PS26/11 says that, before a staking service begins, authorised cryptoasset firms must give retail clients information on the firm and service, provide the key contractual terms, and obtain express prior consent to those terms.
PS26/11 says consent can cover existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions. PS26/11 does not permit blanket consent for current or future holdings of unspecified cryptoassets.
Future holdings in the published description
The policy statement explains how future holdings are to be treated within consent mechanisms and contractual descriptions. PS26/11 says firms can obtain consent that covers future holdings of a specified cryptoasset or multiple specified cryptoassets, provided the consent and the terms meet the conditions set out in the chapter. PS26/11 does not permit blanket consent for current or future holdings of unspecified cryptoassets.
PS26/11 also reiterates that the required information and consent must be in place before the staking service begins. At the same time the regulator’s final policy clarifies that firms are not required to repeat information and obtain fresh consent before every single instance of staking a retail client’s cryptoassets. PS26/11 states firms are not required to provide information and obtain consent before each separate instance of staking a retail client’s cryptoassets.
PS26/11 says firms can obtain consent that covers future holdings of specified cryptoassets, subject to conditions, and does not permit blanket consent for unspecified cryptoassets. PS26/11 says terms for auto-staking must state that a firm may stake future holdings of a specified cryptoasset and explain how the service can be cancelled.
Terms and cancellation wording
PS26/11 sets out requirements for auto-staking terms, including stating that a firm may stake future holdings of a specified cryptoasset and explaining how the service can be cancelled. PS26/11 says that, before a staking service begins, authorised cryptoasset firms must provide retail clients with the key contractual terms and information on risks such as slashing or other operational disruptions. For auto-staking specifically, PS26/11 says terms must state that a firm may stake a client’s future holdings of a specified cryptoasset and must explain how the service can be cancelled.
The FCA says express prior consent to those terms is required for services involving retail clients. PS26/11 says that, before a staking service begins, authorised cryptoasset firms must give retail clients information and key contractual terms and obtain express prior consent to those terms; for auto‑staking, terms must state that a firm may stake future holdings of a specified cryptoasset and explain how the service can be cancelled. PS26/11 says terms must explain how an auto‑staking service can be cancelled and that express prior consent to those terms is required.
PS26/11 requires authorised cryptoasset firms to provide retail clients with the key contractual terms of a staking service. PS26/11 says auto‑staking terms must explain how the service can be cancelled and that express prior consent to those terms is required.
Twelve-month notifications in the final policy
The FCA’s final policy includes an ongoing notification requirement following original consent. PS26/11 says firms are required, at least every 12 months after the point of original consent, to notify retail clients about the staking service they are using. PS26/11 requires at least annual notification after original consent.
The regulator’s published text specifies the content the notification should contain. PS26/11 says the notification should include the amount currently staked, the total rewards earned, the total fees and commission charged, and the most recent terms of service. PS26/11 applies the at‑least‑annual notification to all staking‑service models.
PS26/11 requires at‑least‑annual notifications. PS26/11 says the notification should include the amount currently staked, total rewards earned, total fees and commission charged, and the most recent terms of service.
Material changes to key terms
PS26/11 addresses how changes to contractual terms should be handled in relation to retail clients. PS26/11 says firms must notify retail clients of material changes to key terms in good time. It specifies that examples of such material changes include alterations to fees or to the duration for which cryptoassets will be locked up.
PS26/11 says firms must notify retail clients of material changes to key terms in good time. PS26/11 says firms must notify retail clients of material changes to key terms in good time, including changes to fees or the duration for which cryptoassets will be locked up.
PS26/11 says firms must notify retail clients of material changes to key terms in good time. PS26/11 says firms must notify retail clients of material changes to key terms in good time, and it also requires at‑least‑annual notifications after original consent.
The FCA’s stated consumer-understanding context
The FCA overview says it is maintaining an overarching approach to strengthening retail consumer understanding, including disclosures, contractual terms and client consent, alongside record keeping. PS26/11 says clients may not understand the technical mechanics or terminology of staking and that firms should aim to help retail clients understand a staking service’s economic nature and consequences. PS26/11 says clients may not understand the technical mechanics or terminology of staking and that firms should aim to help retail clients understand a staking service’s economic nature and consequences.
PS26/11 proceeds with proposed record‑keeping requirements, including a five‑year retention period and specified records. The policy statement says the FCA will proceed with proposed record-keeping requirements for authorised cryptoasset firms, including a five-year retention period, with exceptions where certain records must be kept for the duration of a client relationship where that is longer. PS26/11 says the amended requirements require firms to keep records in respect of clients whose identity is known to the firm and that firms must keep records of the type and amount of cryptoassets provided to clients as part of a staking service.
The regulator’s published chapter further says that where cryptoasset safeguarding takes place, CASS 17 safeguarding record-keeping requirements apply. PS26/11 also says the staking requirements do not prescribe specific on- or off-chain methods to implement record keeping. This article does not address perimeter issues.
The FCA’s general risk statement appears in the overview that accompanies the policy statements. This article does not provide risk assessments beyond the FCA publications cited. The FCA overview says cryptoassets are high‑risk investments, most are highly speculative, and consumers could lose the entire value of their investment.
Official FCA sources: FCA overview of the cryptoasset regime (30 June 2026) and PS26/11: Regulated Cryptoasset Activities (PDF).
Record keeping in the final policy statement
The FCA’s final policy statement PS26/11 addresses record keeping as a specific element of the regulatory framework for staking activity. The FCA says it will proceed with proposed record‑keeping requirements for authorised cryptoasset firms as part of the package of measures in PS26/11. PS26/11 proceeds with record‑keeping requirements for authorised cryptoasset firms, and the FCA overview describes the series as setting out final rules and guidance.
The FCA overview says it is maintaining an overarching approach to strengthening retail consumer understanding, including disclosures, contractual terms and client consent, alongside record keeping. The FCA overview says it is maintaining an overarching approach to strengthening retail consumer understanding, including disclosures, contractual terms and client consent, alongside record keeping for all clients. PS26/11 proceeds with record‑keeping requirements for authorised cryptoasset firms.
The FCA overview published on 30 June 2026 reiterates that PS26/11 is part of its final-policy suite. PS26/11 addresses record‑keeping requirements; it does not prescribe specific on‑ or off‑chain methods. PS26/11 addresses record‑keeping requirements in Chapter 8, which is headed “Staking.”
The five-year retention description
PS26/11 sets out a baseline retention period for records. The policy statement says authorised cryptoasset firms must retain records for a minimum of five years. PS26/11 says authorised cryptoasset firms must retain records for five years.
PS26/11 also describes exceptions to the five‑year baseline. The statement says that where particular records relate to an ongoing client relationship, firms are required to keep those records for the duration of that relationship if it extends beyond five years. PS26/11 says authorised cryptoasset firms must retain records for five years, with exceptions where specified records must be retained for the duration of a client relationship if that is longer.
PS26/11 says authorised cryptoasset firms must retain records for five years, with exceptions where specified records must be retained for the duration of a client relationship if that is longer. PS26/11 says authorised cryptoasset firms must retain records for five years, with exceptions where specified records must be retained for the duration of a client relationship if that is longer.
Known-client records in liquid-staking context
The policy statement makes a specific point about records that relate to identified clients. PS26/11 says the amended requirements require firms to keep records in respect of clients whose identity is known to the firm. This is stated as part of the changes made to record‑keeping obligations in the staking context.
PS26/11 addresses record‑keeping in the context of staking, including requirements to keep records where a client’s identity is known. PS26/11 requires firms to keep records in respect of clients whose identity is known to the firm. PS26/11 says firms are required to keep records in respect of clients whose identity is known to the firm.
PS26/11 says firms are required to keep records in respect of clients whose identity is known to the firm. PS26/11 says its staking requirements do not prescribe specific on‑ or off‑chain methods for implementing record keeping.
Type and amount records in the FCA text
PS26/11 includes an express requirement about the content of records pertaining to staking services. The policy statement says firms must keep records of the type and amount of cryptoassets provided to clients as part of a cryptoasset‑staking service. PS26/11 says firms must keep records of the type and amount of cryptoassets provided to clients as part of a cryptoasset‑staking service.
Within the broader Chapter 8 discussion, record requirements about type and amount sit alongside other staking‑specific obligations. PS26/11 says firms must keep records of the type and amount of cryptoassets provided to clients as part of a cryptoasset‑staking service. PS26/11 says firms must keep records of the type and amount of cryptoassets provided to clients as part of a cryptoasset‑staking service.
The requirement to keep type and amount records is stated as a firm‑level obligation in the PS26/11 text. PS26/11 does not prescribe specific on‑ or off‑chain methods for implementing record keeping, and says firms must keep records of the type and amount of cryptoassets provided to clients as part of a staking service.
CASS 17 safeguarding context
PS26/11 connects the staking record‑keeping discussion to the existing safeguarding framework. The statement says that CASS 17 safeguarding record‑keeping requirements apply where cryptoasset safeguarding also takes place. PS26/11 says CASS 17 safeguarding record‑keeping requirements apply where cryptoasset safeguarding also takes place.
PS26/11 says CASS 17 safeguarding record‑keeping requirements apply where cryptoasset safeguarding also takes place. PS26/11 says CASS 17 safeguarding record‑keeping requirements apply where cryptoasset safeguarding also takes place.
PS26/11 says CASS 17 safeguarding record‑keeping requirements apply where cryptoasset safeguarding also takes place. PS26/11 says CASS 17 safeguarding record-keeping requirements apply where cryptoasset safeguarding also takes place.
No prescribed on-chain or off-chain method
PS26/11 says its staking requirements do not prescribe the specific methods, including on‑ or off‑chain methods, that firms use to implement record‑keeping requirements. The statement says that the staking requirements do not prescribe specific on‑ or off‑chain methods to implement record keeping. PS26/11 says its staking requirements do not prescribe specific on‑ or off‑chain methods for implementing record keeping.
PS26/11 does not prescribe specific on‑ or off‑chain methods for implementing record‑keeping requirements. PS26/11 does not prescribe specific on‑ or off‑chain methods for implementing record‑keeping requirements.
PS26/11 sets out record‑keeping outcomes without prescribing the specific methods. PS26/11 sets out record‑keeping retention and content requirements without prescribing specific on‑ or off‑chain methods.
Conclusion: FCA cryptoasset staking as public information
The FCA overview says it is maintaining an overarching approach to strengthening retail consumer understanding, including disclosures, contractual terms and client consent, alongside record keeping. The FCA overview says it is maintaining an overarching approach to strengthening retail consumer understanding, including disclosures, contractual terms and client consent, alongside record keeping.
PS26/11 Chapter 8 is titled “Staking” and contains the FCA’s final‑policy discussion of staking. It describes a set of requirements that include pre‑service information to retail clients, express prior consent to key contractual terms, an annual notification requirement after original consent, and a record‑keeping framework that includes a five‑year baseline and specified content obligations. PS26/11 describes exceptions to the five-year retention period and says CASS 17 safeguarding record-keeping requirements apply where cryptoasset safeguarding also takes place.
PS26/11 addresses record-keeping, including a five-year retention period with specified exceptions, records in respect of clients whose identity is known to the firm, and records of the type and amount of cryptoassets provided to clients as part of a staking service. The policy statement explicitly avoids prescribing particular technical methods for storing those records.
Readers seeking the primary sources for this account can consult the FCA’s overview and the full PS26/11 policy statement. The overview and PS26/11 set out the FCA’s final rules and guidance on staking in the cryptoassets regime.
Official FCA sources
FCA overview of our cryptoassets regime (30 June 2026): FCA overview of our cryptoassets regime
PS26/11: Regulated Cryptoasset Activities (policy statement and Chapter 8 “Staking”): PS26/11: Regulated Cryptoasset Activities (PDF)
Staking language in the FCA overview
The Financial Conduct Authority’s overview of its cryptoassets regime identifies PS26/11 among the final policy statements and includes a ‘Staking’ section describing the FCA’s overarching approach. The overview frames PS26/11 as part of a series of final policy statements that summarise consultation feedback and set out final rules and guidance.
PS26/11 includes record‑keeping requirements. PS26/11 sets out record‑keeping requirements for staking. PS26/11 includes record‑keeping alongside other staking rules.
The FCA overview identifies PS26/11 among the final policy statements and says the series sets out final rules and guidance. The FCA overview says the policy‑statement series summarises consultation feedback and sets out final rules and guidance, and it identifies PS26/11 among those final policy statements.
Retail and non-retail record-keeping context
PS26/11 sets out record‑keeping requirements for authorised cryptoasset firms. PS26/11 includes record‑keeping requirements as part of the staking chapter.
PS26/11 requires firms to retain records for five years, with specified exceptions. PS26/11 requires firms to keep records, including the type and amount of cryptoassets provided to clients as part of a staking service.
PS26/11 sets out record‑keeping expectations in the staking chapter. PS26/11 addresses record‑keeping content and retention.
Published record-keeping points for liquid-staking context
PS26/11 specifies the types of records firms are required to maintain in respect of staking services. In the chapter on staking, the policy statement indicates firms are to keep records in respect of clients whose identity is known to the firm, and to retain records that record the type and amount of cryptoassets provided to clients as part of a staking service.
PS26/11 says firms must keep records in respect of clients whose identity is known to the firm and records of the type and amount of cryptoassets provided to clients as part of a staking service. The policy statement highlights these record elements as part of the final-rule set addressing staking activities.
PS26/11 requires records in respect of clients whose identity is known and of the type and amount of cryptoassets provided to clients as part of a staking service. PS26/11 says firms must keep records in respect of clients whose identity is known to the firm and of the type and amount of cryptoassets provided to clients as part of a staking service.
Why final-policy reporting does not assess an arrangement
PS26/11 sets out record-keeping retention and content requirements and does not prescribe specific on- or off-chain methods for implementing record keeping. The policy statement explicitly does not prescribe particular on-chain or off-chain implementation methods for maintaining the records that it requires.
PS26/11 says it does not prescribe specific on‑ or off‑chain methods for implementing record‑keeping requirements. PS26/11 does not prescribe specific on‑ or off‑chain methods and sets out record content and retention.
This article does not address perimeter matters. PS26/11 includes a chapter headed “Staking” that sets out rules and guidance on staking.
Closing source note on FCA cryptoasset staking
This account summarises the final-policy statements that the FCA has published on staking in PS26/11 and the related position in the regulator’s overview of its cryptoasset regime. The overview identifies PS26/11 as the relevant activity-specific policy statement for staking, and PS26/11 sets out the record-keeping expectations described above.
For readers seeking the primary texts referenced here, the FCA’s overview of its cryptoassets regime and the full PS26/11 policy statement are the source documents for these final-policy points. The regulator’s overview is at https://www.fca.org.uk/publications/policy-statements/cryptoasset-regime and the full PS26/11 publication, including the chapter headed “Staking”, is at https://www.fca.org.uk/publication/policy/ps26-11.pdf.
Published Chapter 8 summary
PS26/11 describes information, key contractual terms and express prior consent in relation to staking services involving retail clients. The policy statement says this material is provided before a staking service begins. It also identifies risks such as slashing and other operational disruptions in its discussion of information for retail clients.
For auto-staking, PS26/11 says consent can cover existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions. The policy statement says its rules do not permit blanket consent for current or future holdings of unspecified cryptoassets. It says auto-staking terms state that a firm may stake future holdings of a specified cryptoasset and explain how the service can be cancelled.
PS26/11 says that, for all staking-service models, notification is required at least every 12 months after original consent. It describes that notification as including the amount currently staked, total rewards earned, total fees and commission charged, and the most recent terms of service. The policy statement also says firms notify retail clients of material changes to key terms in good time.
On record keeping, PS26/11 says firms retain records for five years, subject to stated exceptions. It says firms keep records in respect of clients whose identity is known to the firm and of the type and amount of cryptoassets provided to clients as part of a staking service. The policy statement says it does not prescribe specific on- or off-chain methods for implementing record keeping.
Source-limited recap of published points
The FCA overview identifies PS26/11 among the final policy statements in the cryptoassets policy-statement series. The overview says the series summarises consultation feedback and sets out final rules and guidance. PS26/11 includes Chapter 8, headed “Staking”. This article reports those FCA publications only and does not assess any individual person, firm, service, asset, arrangement or outcome.
PS26/11 says that, before a staking service begins, authorised cryptoasset firms give retail clients information on the firm and service, provide key contractual terms and obtain express prior consent to those terms. The policy statement identifies risks such as slashing or other operational disruptions in its discussion of information for retail clients. It says firms are not required to provide information and obtain consent before each separate instance of staking a retail client’s cryptoassets.
For auto-staking, PS26/11 says consent can cover existing and future holdings of a specified cryptoasset or multiple specified cryptoassets, subject to conditions. It says blanket consent for current or future holdings of unspecified cryptoassets is not permitted. The policy statement says auto-staking terms state that a firm may stake future holdings of a specified cryptoasset and explain how the service can be cancelled.
PS26/11 describes an at-least-annual notification after original consent for all staking-service models. It says firms notify retail clients of material changes to key terms in good time. On record keeping, PS26/11 says authorised cryptoasset firms retain records for five years, with stated exceptions; it also describes records in respect of clients whose identity is known to the firm and records of the type and amount of cryptoassets provided to clients as part of a staking service.