On 12 December 2024, the Prudential Regulation Authority (PRA) published a data request relating to firms’ exposures to tokenised assets, stablecoins and other cryptoassets.

Through the data request, the PRA is seeking to gather information on firms’ current and expected future cryptoasset exposures and firms’ application of the Basel framework for the prudential treatment of cryptoassets. The data is intended to inform work across the PRA and the Bank of England on cryptoassets, by helping them to calibrate their prudential treatment of cryptoasset exposures and analyse the relative costs and benefits of different policy options, as well as providing an updated view of firms’ current and intended cryptoasset-related business activities as a base from which to monitor the financial stability implications of these assets.

Firms are asked to complete the information request at the highest level of UK consolidation, to the extent it is relevant to their business, exposures or activities. The PRA flags that firms without relevant cryptoasset exposures, business or activities are not required to provide a “nil return”, and that firms should only complete the parts of the template that are relevant to them.

The deadline for firms to respond to the information request is 24 March 2025.