New guidance from the Financial
Conduct Authority (FCA) will help firms understand how the law
underpinning the UK's future cryptoasset regime applies to their
business. It also sets out which activities may require FCA
authorisation.
The regime comes into force on 25
October 2027. With applications for authorisation opening from 30
September 2026, firms need this guidance now to help them
prepare. The guidance covers activities including issuing
qualifying stablecoins, operating cryptoasset trading platforms,
dealing and arranging deals, safeguarding cryptoassets and
arranging cryptoasset staking.
David Geale, executive director of
consumers, payments and competition at the FCA, said: We are
building a crypto regime that firms, consumers and international
partners can trust.
"Getting ready for regulation starts
with understanding how the regime applies to your business. This
guidance gives firms the clarity they've asked for so they can
prepare with confidence.
This guidance follows the FCA's
extensive work to prepare for the new regime, including finalising its rules and
guidance in June 2026. The FCA is supporting firms to prepare
including through pre-application discussions and
webinars.
The Government has also made targeted
changes to the law, including some limited exclusions and further
clarity for certain technical services providers. These changes
will not affect most crypto firms, which can use this guidance
now to prepare for authorisation. The FCA will, however, consult
in October on targeted updates to this guidance in light of these
legal changes.
Notes to
Editors
