Read PS26/18 (PDF)[3]

Why we are changing

From 25 October 2027, the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026[4] (the Cryptoasset Regulations) will introduce new regulated activities for cryptoassets into our perimeter. 

Anyone wishing to carry on these activities by way of business in the UK will need to apply for authorisation, unless there is a relevant exemption or they are able to use the savings or transitional run off provisions[5].

Our guidance aims to help firms understand our regulatory perimeter and when authorisation may be required for cryptoasset activities. 

Who this is for 

This is relevant to: 

• firms carrying out, or planning to carry out, regulated cryptoasset activities in the UK, such as safeguarding cryptoassets, operating a trading platform, or arranging deals or staking 
• firms already authorised that may need extra permissions 
• firms registered under the Money Laundering Regulations (MLRs) 
• issuers of electronic money and payment service providers 
• traditional finance firms exploring cryptoasset markets 
• overseas firms providing cryptoasset services to UK consumers 

Next steps 

Read our guidance and work out whether you need FCA authorisation or a variation of permission. Existing registrations and permissions won't convert automatically. 

The application window[6] opens on 30 September 2026 and closes on 28 February 2027 for firms wanting to use the transitional arrangements. Get independent legal advice if you're unsure how the rules apply to you.

We'll support firms throughout, including through webinars[7] and our pre-application support service (PASS)[8]. Dual-regulated firms should also contact the Prudential Regulation Authority (PRA). 

We plan to consult on further changes to our perimeter guidance in late 2026, following a Government statutory instrument[9] amending the underlying regulations. We aim to publish that guidance in early 2027.

Background 

We consulted on this guidance in April 2026 (CP26/13[10]) and received 78 responses. Most respondents supported our approach. This guidance builds on our core cryptoasset regime and supports our aims of protecting consumers and keeping markets fair as the UK becomes a trusted home for cryptoasset innovation. 

On 30 June 2026, we published a series of policy statements[11] on our cryptoasset regime. These policy statements set out our final rules and guidance on admissions and disclosures and market abuse (PS26/9[12]), stablecoin issuance (PS26/10[13]), regulated cryptoasset activities (PS26/11[14]), prudential rules (PS26/12[15]), and the application of the FCA Handbook (PS26/13[16]).