Crypto will be regulated in the UK from October 2027, according to the FCA.
The Financial Conduct Authority (FCA) has reported today that it is finalising the wider cryptoasset regime, with rules to be published this summer. Parliament has now confirmed which cryptoasset activities will fall within the scope of regulation. Read the full FCA consultation, which closes on 3 June 2026, here.
Building on that, the FCA is consulting on new guidance to help firms understand how they might be affected by the regulatory regime for cryptoassets.
The regulator is seeking feedback on its interpretation of the following regulated cryptoasset activities:
- issuing qualifying stablecoin
- operating trading platforms
- dealing and arranging deals in qualifying cryptoassets
- safeguarding cryptoassets
- staking
The proposed guidance supports the FCA’s aim for an open, sustainable and competitive crypto market people can trust.
Crypto firms will be able to start applying for authorisation from September 2026. Ahead of this, the FCA is providing crypto firms with support on how to apply and to understand how the future regime could work.
Until the new regime comes into force, crypto is largely unregulated except for financial promotions and financial crime purposes. As with all high-risk investments, people should only put in what they can afford to lose.
Responding to today’s announcement of the consultation, Michael McCormick, financial services managing consultant at RSM UK, said that this brings much-needed clarity to UK crypto regulation commenting: “This consultation marks a turning point for the UK’s crypto regime. By bringing much-needed clarity to where the regulatory perimeter sits, particularly across activities like trading, custody, dealing and staking, the FCA is addressing one of the biggest barriers in the market today: firms not knowing whether they are in or out of scope.
“Set against the backdrop of MiCA (Markets in Crypto-Assets Regulation) in the EU, the UK is positioning itself with a distinct, Financial Services and Markets Act (FSMA)-based framework. Importantly, this is not just about compliance, it creates a real opportunity.
“Greater clarity should drive higher quality authorisation applications, enable credible firms to scale with confidence, and reinforce the UK’s position as a well-regulated crypto market. With the authorisation window opening in September 2026, firms that act early will be best placed to take advantage of that opportunity. Failure to act risks missing the cut off window to apply in February 2027.”
Also sharing his reaction to this announcement, Zumo’s Founder and CEO Nick Jones said:
“While some may be tempted to roll their eyes at yet another consultation paper, this is another hugely positive step forward for the industry.”
“The regulator is asking for further input on a wide range of cryptoasset activities, including issuing qualifying stablecoins in the UK, operating a qualifying cryptoasset trading platform, staking, and – crucially – safeguarding cryptoassets.”
“The common theme throughout this paper is clarifying exactly what falls within the regulatory perimeter, and it will help firms to assess whether or not they are in scope before the FCA’s authorisations gateway opens at the end of September.”
“This will enable proactive firms to prepare early for the new regime and it’s fair to say that thanks to the FCA’s crypto roadmap, the UK is benefitting from a more systemic, phased, and predictable process than has been seen in many other jurisdictions.”
“By engaging with the industry transparently, and in depth, the FCA is laying the foundations for a thriving onshore sector that’s set up for long-term, sustainable growth. What’s now required is the creation of compliant infrastructure that can accommodate new levels of operating obligations and act as a credible bridge to the UK market – and that’s where our current focus lies.”
