FCA Publishes Guidance on UK Crypto Regime as Regulator Accelerates Agenda

The UK's Financial Conduct Authority (FCA) has published guidance on how its future crypto regime will apply to firms. The guidance explains which activities will require authorisation, including issuing qualifying stablecoins, operating CEXs/DEXs and trading platforms, dealing and arranging, safeguarding customer cryptoassets, and arranging staking.

The FCA's rules and guidance were finalised in June 2026, following legislation passed in February 2026 that brought cryptoassets into UK regulation. The regime takes effect on 25 October 2027, with applications for authorisation opening on 30 September 2026.

The guidance provides clarity that should boost security, adoption, and institutional engagement for crypto, DeFi, and token launches, but it also forces firms to address custody, compliance, and market-making obligations. The FCA is offering pre-application support meetings and webinars to help firms prepare, and will consult on targeted updates in October.

Firms operating in the UK should review the perimeter guidance now to confirm which activities will require authorisation ahead of the September application window, as those that delay preparation risk operating without authorisation once the regime takes effect. According to David Geale, the FCA's executive director of consumers, payments and competition, '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.'

The guidance arrives as the UK regulator accelerates its crypto agenda, which includes opening a call for input on tokenised gold for UK wholesale markets.