The FCA has laid out clear standards for firms supporting people to buy, trade and hold crypto under a new set of landmark rules.
All firms must meet financial resilience requirements including capital and stress testing while new market integrity rules will be introduced to tackle insider trading and market manipulation.
The new framework also sets out specific rules for stablecoins in a bid to build trust in how they are used over time. The regime will now include simpler capital requirements for stablecoin firms following a consultation.
David Geale, executive director of payments and digital finance at the FCA, said: “This is a significant moment for crypto regulation in the UK. We’ve created a framework that doesn’t force firms to choose between regulatory certainty and room to innovate – this regime means they can have both in a stable, competitive home to build and grow.
“For consumers, it means firms will be held to similar standards to other financial providers, though we can’t regulate away risk.”
Until the new rules come into effect in October 2027, the FCA’s oversight of crypto – introduced in February 2026 – 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.
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 when it takes effect on 25 October 2027.
