Crypto regulation UK
Crypto regulation in the UK defines the conditions under which firms can offer digital asset services to customers. The Financial Conduct Authority oversees relevant activities, including anti-money laundering registration and rules for financial promotions. Businesses need to distinguish these obligations from full authorization for an activity under the Financial Services and Markets Act.
The UK is extending its financial services regime to crypto trading, custody and other specified activities. The framework also addresses stablecoin issuers, with requirements tied to the role and service of each business. A firm therefore needs to assess which permissions cover its planned activities and how the transition affects existing operations.
The law: SI 2026/102
The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 were made on 4 February 2026, as Browne Jacobson notes. They add new regulated activities: operating a crypto trading platform, dealing and arranging deals as an intermediary, safeguarding crypto for clients, issuing a qualifying stablecoin in the UK and staking. Until the regime starts, the FCA oversees crypto firms only for financial promotions and anti-money-laundering registration.
The FCA rules of 30 June 2026
The FCA published its final rules on 30 June 2026 in five policy statements, which BCLP lists: PS26/9 on admissions, disclosures and market abuse, PS26/10 on stablecoin issuance, PS26/11 on the regulated activities, PS26/12 on prudential requirements and PS26/13 on Handbook changes, plus three guidance documents. For stablecoin issuers the FCA lowered a capital coefficient from 2 to 1 percent, and issuers may not pass income from the backing assets to holders.
Applying for authorization
The application window runs from 30 September 2026 to 28 February 2027, and the regime goes live on 25 October 2027, according to Paul Hastings. An FCA registration under the Money Laundering Regulations does not turn into an authorization; registered firms apply like new ones. Firms that approve crypto promotions for others under section 21 of FSMA also need the new authorization.
The UK regime is separate from MiCA; a MiCA license from an EU country gives no access to UK clients, and a UK authorization none to EU clients; the page on reverse solicitation covers the narrow exception on the EU side.
Finance Loop, the meeting place for MiCA compliance
Finance Loop is the meeting place for people at banks, brokers, crypto firms and law firms who apply MiCA. The Bybit EU Crypto Evening at TechQuartier dealt with compliance under MiCAR, and Finance Loop lists the MiCAR certificate program of EBS Executive School and HEUKING. Finance Loop connects the finance, IT and AI communities at events in Frankfurt, Munich, Berlin and Hamburg.
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Is crypto regulated in the UK?
Crypto regulation remains partial until 25 October 2027: crypto firms register with the FCA for anti-money-laundering purposes and follow the rules on financial promotions. From 25 October 2027 trading platforms, intermediaries, custodians, stablecoin issuers and staking providers need full FCA authorization.
When does the FCA crypto regime start?
The FCA crypto regime starts on 25 October 2027, and firms apply between 30 September 2026 and 28 February 2027.
Does a MiCA license allow a firm to serve UK clients?
The UK left the EU before MiCA applied, and there is no passport between the two regimes; a firm needs a UK authorization for UK clients.
Crypto regulation in the UK and Finance Loop
Finance Loop covers crypto regulation in its Risk & Compliance track, MiCA in the EU and the regimes next door in the UK and Switzerland. Finance Loop brings compliance officers of banks, brokers and crypto firms together with lawyers and supervisors at events in Frankfurt, Munich, Berlin and Hamburg.
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