The UK Financial Conduct Authority (FCA) has released final guidance for its upcoming cryptoasset regulatory regime, clarifying which activities will require authorization under the new framework.
The FCA's authorization gateway opens on September 30, 2026. Firms seeking to use transitional arrangements must submit applications by February 28, 2027. The full cryptoasset regime is scheduled to take effect on October 25, 2027.
Regulated Activities
The new policy statement PS26/18 outlines which crypto activities fall under FCA oversight, including qualifying stablecoin issuance, crypto trading platforms, dealing and arranging, custody, and cryptoasset staking.
Fresh Applications Required
Existing firms currently registered under the UK's anti-money laundering rules will need to submit new applications if their activities fall within the regulated framework. The new system does not automatically convert existing AML registrations into FCA authorization.
Expanded Requirements
The FCA is applying broader financial safeguards to crypto firms operating under the new regime:
- Consumer Duty requirements
- Governance requirements
- Safeguarding rules
- Operational resilience standards
- Senior Managers and Certification Regime
Firms will need to meet these standards to continue offering regulated crypto services in the UK.
The FCA encourages firms to review policy statement PS26/18 to understand how the new rules apply to their businesses and to seek pre-application support from the regulator before submitting applications.
