ORIGINAL RESEARCH / UK CRYPTO

The UK's cryptoasset regulatory gateway is open. What should firms do next?

Published 9 October 2026 · Based on primary FCA sources · Information only

The FCA is accepting applications for the UK's new cryptoasset regulatory regime. For businesses planning to trade, issue, custody, arrange or stake relevant cryptoassets, this creates a practical deadline for understanding the regulatory perimeter and preparing a credible authorisation application.

These are the FCA's published dates as at 9 October 2026. Read the regulator's guidance.

Which activities may need permission?

The FCA identifies activities including UK issuance of qualifying stablecoins, safeguarding cryptoassets, trading-platform operation, dealing as principal or agent, arranging cryptoasset transactions and qualifying cryptoasset staking. The precise requirements depend on the legal definitions and facts of the firm’s activity. FCA regulated activities overview; final perimeter guidance PS26/18.

Important: An existing FCA registration under the Money Laundering Regulations (MLRs) does not automatically convert to authorisation under FSMA for the new regulated activities. Already-authorised firms may need a variation of permission.

Our practical seven-point readiness check

1. Map the activities. Identify products, entities, customer types and transactions that may enter the perimeter.
2. Confirm the permissions route. Assess whether new authorisation or a variation is applicable.
3. Assign accountability. Agree board oversight, an owner and a documented decision process.
4. Review risk and conduct. Evaluate current arrangements against relevant new rules and expectations.
5. Assess technology and operations. Review custody, systems, outsourcing, reconciliation, reporting and resilience where relevant.
6. Prepare evidence. Assemble consistent policies, forecasts, governance records and supporting material.
7. Plan backwards from regulatory dates. Create a credible, owner-led timeline and track unresolved gaps.

The FCA encourages early, high-quality applications and offers an optional pre-application support process. That process is not a substitute for specialist legal or compliance advice.

Official reading list

• FCA readiness: what firms should do — Updated 16 September 2026
• FCA gateway: applications and approach — Updated 30 September 2026
• FCA scope: regulated cryptoasset activities — Updated 16 September 2026
• FCA final perimeter guidance (PS26/18) — Published 16 September 2026
• FCA overview of policy statements — Final policy materials
• FCA position on continuing MLR registration — Updated 16 September 2026
• FCA minimum standards / threshold conditions — Updated 30 June 2026