UK Regulator Finalises Landmark Rules to Oversee Crypto Firms

The UK's Financial Conduct Authority has published its final rules and guidance for a comprehensive cryptoasset regime, marking one of the most significant expansions of the regulator's remit in years. The framework will require firms carrying out in-scope activities, including operating trading platforms, dealing or arranging in cryptoassets, safeguarding customer holdings, issuing qualifying stablecoins and arranging staking, to obtain FCA authorisation to serve UK customers. Firms will face financial-resilience requirements such as capital adequacy and stress testing, new market-integrity rules addressing insider dealing and manipulation, and obligations under the Consumer Duty, while retail customers will gain access to the Financial Ombudsman Service for the first time. Rules for systemic stablecoins were developed jointly with the Bank of England. The regime follows legislation passed earlier in the year that brought cryptoassets into the FCA's perimeter, and it completes the regulator's crypto roadmap. The authorisation gateway opens on 30 September 2026, with the mandatory regime taking full effect on 25 October 2027; pre-application support meetings are available from July, and the FCA hosted a webinar on 17 July to walk firms through the policy statements. The FCA stressed that crypto remains high-risk for consumers.