On 8 January 2026, the Financial Conduct Authority (FCA) published webpages setting out further information in relation to its proposed approach to the new regulatory regime for Cryptoassets.

Background

In October 2023, HM Treasury (HMT) published proposals for the creation of a regulatory regime for cryptoassets and, in December 2025, the government laid The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 before Parliament, which will require firms wishing to carry out the relevant activities in or to the UK to be authorised and supervised by the FCA.

Summary

The FCA explained that it is publishing these webpages to help firms that are within scope of the new regime, in particular where this is the first time they will be regulated by the FCA, and that firms should consider familiarising themselves with the following:

  • FSMA and the FCA Handbook:  HMT’s proposed new cryptoasset regulated activities, the Financial Services and Markets Act 2000 and an overview of the FCA Handbook.
  • FCA standards: The FCA’s minimum standards for cryptoasset firms and individuals including its Principles for Businesses, the Consumer Duty and the Senior Managers and Certification Regime.
  • Authorisation, supervision and enforcement: The FCA’s approach to authorisation, supervision and enforcement for firms that will be undertaking the new cryptoasset regulated activities.
  • How the gateway will operate:  How the authorisations gateway for firms that want to undertake the new cryptoasset regulated activities will operate, including information sessions, pre-application support and details of the application period.
  • The transitional provision: HMT’s proposed transitional provision for existing cryptoasset firms that are unsuccessful in securing authorisation to allow them to run-off their UK business in an orderly way and exit the UK market.

Next steps

The FCA confirmed that it will continue to publish further consultations setting out proposed rules and guidance and that, following consideration of the responses, its final rules and guidance will be set out in policy statements ahead of the implementation of the new regime.

The FCA also confirmed that the new cryptoasset regime is expected to come into force on 25 October 2027 and that, as a result, firms wishing to undertake any of the new cryptoasset regulated activities will need to be authorised by the FCA with permission to undertake those activities at the point the new regime commences.