UK FCA Issues Final Crypto Authorization Guidance Ahead of October Deadline

The UK Financial Conduct Authority (FCA) has released final guidance on crypto authorization requirements for firms operating in the country. The new regime, set to start on October 25, 2027, will bring cryptoassets more comprehensively under financial regulation.

The FCA's guidance clarifies which crypto-related activities will fall within the scope of the new framework, including issuing qualifying stablecoins, operating cryptoasset trading platforms, dealing in and arranging cryptoasset transactions, safeguarding cryptoassets, and arranging crypto staking.

Firms currently registered with the FCA may need to reassess their position and apply for authorization or request a variation of permission under the new regime. The deadline for firms seeking transitional arrangements ahead of the new regime's start is February 28, 2027.

The FCA plans to open applications on September 30, and will also consult on potential further changes to its perimeter guidance later this year.