The Financial Conduct Authority of the United Kingdom (FCA), is developing prudential requirements to be met by firms that engage in crypto-related activities.

In its annual report , published on Thursday, the regulator stated that it will consult with companies involved in crypto-related activities when “the Treasury and Parliament bring these activities under our regulatory framework”.

The FCA didn’t immediately respond to CoinDesk’s request for comment regarding the timeline for receiving regulatory power.

The regulator has already established a prudential framework for investment firms, such as fund managers, asset management firms and trading firms based in Britain. The regime requires that firms assess capital adequacy, risk and potential harm to investors to identify harm and provide resources to mitigate it.

The FCA issued a notice last year for firms that have exposures to crypto companies. It urged them to “have adequate systems and controls in place to counter the risks of being used for financial crimes” and to review if they are working with registered crypto companies.