UK Regulator Issues Guidance for Crypto Activities Under New Framework
The UK Financial Conduct Authority (FCA) has released final guidance on when crypto activities require authorization under the country's new regulatory regime. The guidance outlines which activities, such as issuing qualifying stablecoins and operating trading platforms, may be subject to FCA regulation.
The existing registrations and permissions will not automatically convert under the new regime. This means that firms must determine whether they need FCA authorization or a variation of permission.
David Geale, the FCA's executive director of consumers, payments and competition, emphasized that 'getting ready for regulation starts with understanding how the regime applies to your business.' The guidance is intended to provide clarity for firms on what is required.
The FCA will open applications on September 30, with a February 28, 2027 deadline for firms seeking transitional arrangements ahead of the new regime taking effect on October 25, 2027.