UK FCA sets crypto authorization guidance ahead of September application window
The FCA’s new guidance outlines which crypto activities may require authorization as firms prepare for the UK’s incoming digital asset regulatory regime.
The UK Financial Conduct Authority (FCA) has published final guidance outlining which cryptocurrency activities may require authorization ahead of the country's new digital asset regulatory regime. Firms are preparing for the upcoming application window, which opens on September 30 and closes for transitional arrangements on February 28, 2027.
The guidance covers activities like issuing qualifying stablecoins, operating crypto trading platforms, dealing with crypto transactions, safeguarding cryptoassets, and arranging crypto staking. Existing registrations will not automatically convert, so firms will need to determine their specific regulatory needs. FCA Executive Director of Consumers, Payments and Competition, David Geale, emphasized the importance of understanding the regime's application to businesses to prepare with confidence.
The regulator plans to open applications on September 30, with the new regime taking effect on October 25, 2027. Additionally, the FCA is seeking input on potential exemptions for tokenized gold products and intends to publish a roadmap for tokenization in wholesale financial markets later this year.
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