New FCA guidance 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[3]. 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
- Read the policy statement on the cryptoasset perimeter guidance[4].
- This follows legislation set out by the Government in February 2026 to bring cryptoassets into UK regulation.
- The Government has published amendments to that legislation[5], introducing targeted exclusions and clarifications that provide greater certainty on the scope of the regulatory perimeter. The FCA will consult on changes to the perimeter guidance in October.
- The consultation in October will cover the targeted changes relating to UK qualifying stablecoins, proprietary trading and market making, certain technology providers, decentralised protocols, safeguarding arrangements involving central securities depositaries and financial promotions.
- The authorisation gateway for firms will open on 30 September 2026. Pre-application support meetings[6] are available.
- The FCA is hosting webinars to help firms understand its rules and prepare for authorisation. An introduction to the UK’s new crypto regulatory regime is available on demand[7]. The next webinars will cover: applying the FCA handbook[8]; getting authorised[9] and the prudential framework.[10]
- Find out more about the requirements[11] firms must comply with and how firms can prepare for crypto authorisation[12].