The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, made as Statutory Instrument 2026 No. 102, designates specified cryptoasset activities as regulated activities under the Financial Services and Markets Act 2000. The regulated activities regime comes into force on 25 October 2027. The FCA authorisation gateway for cryptoasset firms opens on 30 September 2026 and closes on 28 February 2027, giving firms a five-month window to apply before the commencement date.
The instrument amends Schedule 2 to the Financial Services and Markets Act 2000 to add the following as regulated activities: issuing qualifying stablecoin in the UK; safeguarding qualifying cryptoassets; arranging for another person to safeguard qualifying cryptoassets; operating a qualifying cryptoasset trading platform; dealing in qualifying cryptoassets as principal or agent; arranging deals in qualifying cryptoassets; making arrangements with a view to transactions in qualifying cryptoassets; and qualifying cryptoasset staking. Carrying on any of these activities without FCA authorisation after 25 October 2027 constitutes an offence under section 19 of the Financial Services and Markets Act 2000, attracting criminal and civil liability.
Cryptoasset trading platforms, stablecoin issuers, custodians, brokers, dealers, and staking service providers operating in or into the UK must obtain FCA authorisation or cease the relevant regulated activity before 25 October 2027. Firms currently registered with the FCA under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as cryptoasset businesses must apply separately for authorisation under the 2026 Regulations; MLR registration does not constitute authorisation. Gambling operators and gaming technology suppliers accepting cryptoassets should assess whether their payment and custody arrangements trigger any of the newly designated regulated activities.
An admissions and disclosures framework and a cryptoasset-specific market abuse regime are subject to separate FCA consultation under Consultation Paper CP25/41 and are not included in SI 2026 No. 102. Transitional arrangements for existing FCA-registered cryptoasset businesses are expected in forthcoming FCA policy statements, but no transitional provisions appear in SI 2026 No. 102 as made. The regulatory perimeter for decentralised finance protocols and non-custodial wallet providers remains subject to ongoing FCA analysis.
Licentium advises cryptoasset businesses, exchanges, stablecoin issuers, and gambling operators integrating cryptoasset payment rails on UK regulatory authorisation strategy and FCA engagement. Our consultants assist with FCA authorisation applications, regulatory perimeter analysis, and SMCR implementation for cryptoasset firms. Work we undertake includes: UK cryptoasset authorisation applications, FCA regulatory perimeter advice, senior manager and certification regime implementation, AML/CTF compliance for cryptoasset businesses, and cross-border regulatory mapping for firms active in UK and EU markets.
Source: The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, SI 2026 No. 102