Trading and intermediaries
Platforms, brokers and dealers carrying on newly regulated activities will need the right FCA permission.
UK regulation · FCA
The UK crypto regime, without the legal fog.
Last updated
Parliament made the regulations in February 2026 and the FCA published its final core rules in June. The gateway opens on 30 September 2026; the regime starts on 25 October 2027.
Status at 24 Aug 2026
Final rules published
Implementation and authorisation are the next phase.
30 Sep
Gateway opens · 2026
25 Oct
Regime starts · 2027
Not FSCS
Crypto remains high risk
What changes
A wider perimeter, not a safety guarantee.
Today's FCA crypto registration is primarily an anti-money-laundering check. It is not the same as full authorisation under the incoming regime.
Safeguarding
Custodians face rules intended to keep client assets identifiable and improve records, controls and disclosures.
Stablecoins
The FCA framework covers qualifying stablecoin issuance and custody; systemic payment stablecoins also involve the Bank of England.
Market integrity
Admissions, disclosure and crypto market-abuse rules are designed to improve information and deter manipulation.
Firm standards
Consumer Duty, conduct, governance, operational resilience and prudential expectations will apply where relevant.
Staking
The final framework addresses regulated intermediaries providing staking services, with risks and terms needing clear disclosure.
Confirmed timeline
From legislation to launch
4 Feb 2026
The Cryptoassets Regulations were made, creating the legal perimeter for the new regime.
30 Jun 2026
The FCA published its final core policy statement and rules.
30 Sep 2026
The authorisation gateway opens for firms seeking permissions under the new regime.
25 Oct 2027
The new regulatory regime comes into force.
What it means for you
Expect clearer disclosures and stronger standards from firms that obtain permission. Do not read that as protection from price losses, platform failure or scams.
Check the exact legal entity you use and what permissions it has on the FCA Register. A familiar brand can operate through different entities in different countries.
Retail crypto derivatives remain banned. Retail access to qualifying crypto ETNs reopened on 8 October 2025 under specific listing and exchange conditions.
What about DeFi?
Scope depends on the activity and whether an identifiable person or intermediary carries it on. A decentralised label does not automatically put a service outside the perimeter.
The FCA has said further perimeter guidance will follow. Treat claims that DeFi is simply “unregulated” as too broad.
Next step