The Bank of England's regulatory division has issued a request for firms to disclose any current or future involvement with cryptocurrencies by March next year.
This information will be used to monitor stability and help shape regulatory policies.
In a statement released on December 12, the Prudential Regulation Authority (PRA) asked firms to provide details on their current and planned exposures to crypto assets, as well as their use of the Basel framework for regulating crypto assets.
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According to the PRA, this data will help assess the costs and benefits of various policy options.
The PRA expects to use this data as a starting point for monitoring the potential financial stability implications posed by these assets.