The Financial Conduct Authority's (FCA) final cryptoasset rules, published on 30 June 2026, keep the framework it consulted on but make targeted changes to prudential capital, safeguarding, trading, staking, lending and stablecoin issuance. The changes with the most practical effect are a simpler capital treatment for cryptoasset holdings, a halved capital factor for stablecoin issuers and more workable custody and staking rules. Firms that prepared gap analyses or draft appl

Firms that want to carry on regulated cryptoasset activities in the UK when the new regime starts must now apply to the Financial Conduct Authority (FCA) for authorisation. The FCA opened its application window on 30 September 2026 and it closes on 28 February 2027, ahead of the regime coming into force on 25 October 2027. Existing firms that apply within the window can, subject to conditions, keep operating while the FCA decides their application; firms that apply later, or

On 14 July 2026, the Financial Conduct Authority (FCA) published CP26/28: The UK AIFM Regime, proposing to move most of the rules for alternative investment fund managers (AIFMs) out of legislation and into a new Alternative Investment Funds sourcebook (ALTS), and to replace the current full-scope and sub-threshold split with three categories based on aggregate net asset value (NAV): small below £750m, medium between £750m and £5bn, and large above £5bn. These are consultatio