UK FCA Publishes Final Crypto Authorization Guidance Ahead of New Regime
The UK Financial Conduct Authority (FCA) has issued final guidance on crypto authorization for firms operating in the country. The guidance clarifies which activities will fall under the new regime, which takes effect on October 25, 2027.
The FCA's perimeter includes activities such as issuing qualifying stablecoins, operating cryptoasset trading platforms, dealing in and arranging cryptoasset transactions, safeguarding cryptoassets, and arranging crypto staking. Existing registrations and permissions will not automatically convert to the new regime, so firms may need to apply for FCA authorization or request a variation of permission.
The regulator has set out timing for the authorization process, with applications opening on September 30 and transitional arrangements available until February 28, 2027. The FCA also plans to consult on potential further changes to its perimeter guidance later this year.