FCA Launches Consultation on UK Crypto Rules Ahead of 2027 Implementation

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The Financial Conduct Authority (FCA) has launched a consultation outlining how cryptoasset activities will be regulated in the UK before a new regulatory regime takes effect in October 2027.

The consultation seeks industry feedback on the FCA’s interpretation of regulated activities, including stablecoin issuance, trading platforms, dealing, safeguarding, and staking. It follows confirmation by Parliament that these areas will fall within the regulator’s remit under new legislation passed earlier this year.

In a post on X, the FCA said:

Crypto will be regulated in the UK from October 2027. We're seeking views on guidance for crypto firms to create an open, sustainable and competitive crypto market people can trust.

Crypto firms will be able to apply for authorization from September 30, 2026, giving businesses more than a year to prepare before the regime goes live. Until then, crypto remains largely unregulated in the UK outside of rules relating to financial promotions and financial crimes, such as money laundering.

The consultation on draft perimeter guidance is designed to help firms when they need authorization. 

The FCA has stated that consultations on guidance for DeFi and operational resilience are expected later this year. 

The authority said its “consultations on rules for the future cryptoasset regime are substantively complete, with policy statements to be published this summer. This perimeter guidance consultation complements that work by clarifying which activities fall within scope, with a final policy statement due in autumn.”

The consultation closes on June 3.