The U.K. Financial Conduct Authority (FCA) opened applications on Sept. 30, 2026; firms seeking to rely on transition provisions must apply by Feb. 28, 2027, before the regime starts Oct. 25, 2027.
A current registration for anti-money-laundering purposes does not itself confer authorization. Firms must apply if their activities fall within the new rules. EconoTimes previously covered the FCA's crypto authorization timetable.
The framework spans crypto trading platforms and intermediaries, custody services, stablecoin issuance, and businesses offering lending, borrowing or staking. Some decentralized finance businesses are also covered when an identifiable entity controls them. Firms that apply during the window may continue certain services while the FCA reviews their applications if no decision has been issued when the regime starts, subject to transition provisions.
Trading platforms must assess cryptoassets before admitting them and publish disclosures about assets they list. The rules end an exemption that let platforms admit assets fungible with those already trading on the same platform without a disclosure document. Market-conduct requirements address insider dealing, unlawful disclosure of inside information and market manipulation.
Stablecoin issuers face requirements for reserves, redemptions, safeguarding and disclosures. Issuers need not forecast redemptions to set the backing-asset mix, and affiliated companies may provide limited custody with safeguards.
The FCA published the final rules and guidance on June 30, 2026. The regulator says the new framework broadens its role beyond its previous focus on financial promotions and anti-money-laundering controls. It says consumers will gain stronger protections and firms will have a clearer framework. Firms seeking transition provisions must apply by Feb. 28, 2027; the authorization requirement begins Oct. 25, 2027.
