Find out what to do if you are seeking to acquire an FCA-registered cryptoasset firm.
The Money Laundering and Terrorist Financing (Amendment) Regulations 2026[2] introduced changes to the current change in control regime for cryptoasset firms. These went live on 30 June 2026.
The changes introduced FSMA thresholds and assessment criteria if there is no 'beneficial owner' (as defined in Reg 5[3] and Reg 6[4] of MLRs 2017) in the controller chain.
The MLRs have been amended to strengthen the regime for cryptoasset firms and align them to the financial services regulatory regime under the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026[5].
How the changes apply
Will there be a 'beneficial owner' (Reg 5 and Reg 6 of MLRs 2017)?
Yes
- Beneficial owner control thresholds apply.
- Complete cryptoasset forms for all beneficial owners.
- We’ll assess suitability based on the 'Fit and Proper' test under regulation 58A of MLRs[6] 2017[6].
No
- Directive firm control thresholds apply.
- Complete FSMA forms for all proposed controllers in the controller chain.
- We’ll assess suitability based on the assessment criteria in Part XII FSMA.
We encourage beneficial owners to provide financial information on a voluntary basis.
Further help
If you have a question about how these changes may apply in a particular scenario, email [email protected].
If you are planning to submit a Change in Control notification and would like to request a pre-application meeting, you can do this using our pre-application support service (PASS)[7].
