The UK’s Financial Conduct Authority (FCA) has released a set of rules for digital asset market participants. The new regulatory regime will take effect on October 25, 2027.
License applications will be accepted starting September 30, 2026. The FCA advises companies to review the guidance now.
Regulatory approval will be required for various market participants. The document outlines key areas the FCA will oversee:
- issuance of stablecoins that meet standards;
- management of crypto exchanges;
- conducting digital asset transactions;
- custody of cryptocurrencies (custodial services);
- organization of staking.
David Geale, FCA’s Executive Director of Consumers, Payments, and Competition, emphasized the agency’s goal to create a safe and transparent market.
“Preparing for regulation starts with understanding how the law applies to your business. The guidance provides the clarity companies have been asking for,” he stated.
The UK government established the legislative framework for the crypto industry in February, and the FCA finalized the rules in June. Recently, authorities introduced specific amendments to reduce uncertainty for some technical service providers.
In October, the FCA will hold further consultations on the new amendments. These will address rules for market makers, decentralized protocols, stablecoin issuers, and financial promoters.
To assist businesses during the transition period, the regulator has already launched a series of specialized webinars and opened registration for preliminary consultations before application submissions.
Earlier, in late August, the UK government announced plans to give the Bank of England an additional mandate to support innovations in payment systems and new forms of digital money, including stablecoins.
