The UK's Financial Conduct Authority (FCA) has released a comprehensive set of regulations for participants in the digital asset market, with the new regulatory framework set to take effect on October 25, 2027.
Licensing applications will be accepted starting September 30, 2026. The FCA advises companies to familiarize themselves with the guidelines as soon as possible.
Various market participants will require approval from the regulator. The document outlines the primary areas that the FCA will oversee:
- issuance of compliant stablecoins;
- management of cryptocurrency exchanges;
- transactions involving digital assets;
- cryptocurrency custody services;
- staking organization.
David Gill, the FCA's Executive Director for Consumers, Payments, and Competition, emphasized the authority's goal of fostering a secure and transparent market.
“Preparing for regulation starts with understanding how the law applies to your business. The guidance provides companies with the clarity they have been seeking,” he stated.
The legislative framework for the crypto industry was enacted by the UK government in February, while the final set of regulations was approved by the FCA in June. Recently, the authorities made several targeted amendments to the law to reduce uncertainty for certain technical service providers.
In October, the FCA will conduct further consultations regarding the new amendments, focusing on rules for market makers, decentralized protocols, stablecoin issuers, and financial promoters.
To assist businesses during the transition, the regulator has already launched a series of specialized webinars and opened registration for preliminary consultations ahead of the application submissions.
It is worth noting that at the end of August, the UK government announced plans to empower the Bank of England with an additional responsibility to support innovation in payment systems and new forms of digital currency, including stablecoins.