UK FCA Releases Final Crypto Rules as Applications Open September 30

The UK Financial Conduct Authority (FCA) has released final guidance for its upcoming cryptoasset regulatory regime, giving firms a clearer view of which activities will need authorization. 

The guidance states that the application gateway is open until 30 September and the full regime starts in October 2027.

FCA Clarifies Which Crypto Activities Need Authorization

The new policy statement, PS26/18, explains how the UK’s crypto rules will apply to activities including qualifying stablecoin issuance, crypto trading platforms, dealing and arranging, custody, and cryptoasset staking.

The new crypto guidance is designed to help firms understand whether their business falls inside the FCA’s regulatory perimeter before applications open. It also follows the FCA’s final crypto rules published in June.

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.”

He added that firms should understand how the regime applies to their businesses before preparing their applications.

Existing Crypto Firms Must Apply Again

The new framework does not automatically convert existing anti-money laundering registrations into FCA authorization. Firms currently registered under the UK’s AML rules will need to submit a fresh application if their activities fall under the new regulated framework.