LONDON, June 30, 2026 — The Financial Conduct Authority has published its final cryptoasset policy statements, setting out the United Kingdom’s regulatory framework for cryptoasset firms and confirming the timetable for mandatory authorisation ahead of the regime’s implementation in October 2027.
The package introduces final rules for firms supporting customers to buy, trade and hold cryptoassets, including trading platforms, intermediaries, custodians, stablecoin issuers and firms arranging staking. It also marks the completion of the FCA’s crypto roadmap following legislation introduced earlier this year that brought cryptoassets within the regulator’s remit.
Under the new framework, firms carrying out in-scope regulated cryptoasset activities will be required to obtain FCA authorisation to operate in the United Kingdom. Until the new regime comes into force on October 25, 2027, the FCA’s oversight of cryptoassets will remain limited to financial promotions and anti-money laundering controls.
Capital, governance and market integrity
The final framework introduces financial resilience requirements, including capital standards and stress testing, alongside new market integrity rules covering insider trading and market manipulation in cryptoasset markets.
The FCA said it drew on established financial services standards where comparable risks exist, including the application of the Consumer Duty.
Following consultation, the regulator also simplified several elements of the regime, including capital requirements for stablecoin firms and trading rules designed to better reflect how cryptoasset markets operate.
Stablecoin framework
The FCA has also published final rules for qualifying stablecoins, establishing requirements for UK-issued qualifying stablecoins, including rules covering issuance, backing assets, redemption rights and safeguarding.
Stablecoin issuers recognised as systemic by HM Treasury will become subject to a separate joint supervisory framework involving both the FCA and the Bank of England.
Authorisation timetable
The regulator said crypto firms should begin preparing for authorisation ahead of the new regime.
Pre-application support meetings will be available from July 2026. The FCA’s authorisation gateway will open on September 30, 2026, with applications accepted through February 28, 2027. Firms authorised through that process will be able to operate under the mandatory regime when it comes into force on October 25, 2027.
The FCA also confirmed it will publish an additional policy statement in September 2026 explaining how the regulatory perimeter applies to cryptoasset activities. Later this year, it plans further consultations covering decentralised finance guidance, operational resilience guidance for firms using distributed ledger technology and updates to its Financial Crime Guide relevant to cryptoasset firms.
Industry responses
David Geale, executive director of payments and digital finance at the FCA, described the publication as “a significant moment for crypto regulation in the UK,” saying the framework is intended to provide both regulatory certainty and room for innovation while holding firms to standards comparable with those applied elsewhere in financial services.
Industry organisations, including UK Finance, CryptoUK and the Global Blockchain Business Council, welcomed the publication, describing the framework as providing greater regulatory clarity while supporting innovation, consumer confidence and the continued development of the UK’s digital asset market.
Why it matters
The publication completes the FCA’s crypto roadmap and establishes a comprehensive regulatory framework for cryptoasset firms under the UK’s new cryptoasset regime.
It confirms the timetable for mandatory FCA authorisation, introduces prudential, conduct and market integrity requirements, and finalises the regulator’s framework for qualifying stablecoins while complementing the Bank of England’s separate framework for systemic stablecoin issuers.
For crypto firms seeking to operate in the United Kingdom, the publication provides greater regulatory certainty ahead of the October 2027 implementation date while giving firms several months to prepare applications through the FCA’s new authorisation process.
