The FCA has released its finalised perimeter and rules guidance for the new UK Crypto-asset Regime which comes into force from 25 October 2027.
Authorisations open from 30 September.
From next October firms carrying on crypto-asset activities in the UK will need to hold a Part 4A authorisation or be committing a criminal offence.
The eight new regulated activities include:
- Issuing qualifying stablecoins,
- Safeguarding crypto-assets,
- Arranging crypto-asset safeguarding,
- Operating crypto-asset trading platforms,
- Dealing in qualifying crypto-assets as principal or agent,
- Arranging deals in qualifying crypto assts,
- Making arrangements with a view to transaction in qualifying crypto assets,
- Arranging qualifying crypto-asset staking
Some industry respondents had warned that the inclusion of the “arranging deals” activity within the perimeter could see infrastructure providers such as software developers and API providers caught within the rules despite having no control over transactions.
This week’s final guidance confirms that the arranging deals activity will be included, despite opposition.
David Geale, executive director of consumers, payments and competition at the FCA, said: 'We are building a crypto regime that firms, consumers and international partners can trust. Getting ready for regulation starts with understanding how the regime applies to your business. This guidance gives firms the clarity they’ve asked for so they can prepare with confidence.'
Legislation in February this year brought cryptoassets into the FCA’s remit, marking one of the most significant expansions of the regulator’s oversight in years.
The FCA carried out its first operation to disrupt illegal peer-to-peer crypto trading in April.
It said that until the new rules come into effect in October 2027, the FCA’s oversight of crypto will continue to be limited to financial promotions and anti-money laundering controls.
Crypto firms, including trading platforms, intermediaries, custodians, stablecoin issuers and firms arranging staking must obtain FCA authorisation to operate in the UK. Staking refers to locking digital assets on proof-of-stake blockchains.
The FCA is encouraging firms to prepare now and make use of its pre-application support meetings available from July. Firms can apply for authorisation between 30 September 2026 and 28 February 2027, so they are ready to start or continue to trade under the new mandatory regime which will come into force on 25 October 2027.
The Government began the process for legislation bringing crypto assets into the regulatory perimeter in April 2025.
Research from the FCA in 2025 found that 12% of UK adults owned crypto, up from 10% in previous findings.
Awareness of crypto had also risen, climbing from 91% to 93%. The average value of crypto held by people increased from £1,595 to £1,842.
The FCA said crypto remains high-risk and consumers should understand what protections apply before investing. The new rules set by the FCA are designed to provide the foundation for a more sustainable and trusted crypto market in the UK, the FCA said.