The UK's New Regime for Cryptoasset Regulation

We recently attended the FCA's webinar outlining the authorisation process for firms wishing to undertake the newly regulated cryptoasset activities under the upcoming regime. The session provided valuable insights into the FCA's evolving regulatory expectations and what firms should prepare for as the new cryptoasset framework takes shape.

With the application window opening 30 September 2026 to 28 February 2027 and the new FSMA cryptoasset regime going live on 25 October 2027, now is the time for firms to start preparing.

Key takeaways

• All firms intending to carry out regulated cryptoasset activities must apply for authorisation — there will be no automatic transition from existing MLR registration.
• From July 2026, firms can engage with the FCA ahead of submission via the FCA's Pre-Application Support Service (PASS).
• Applications will require clear articulation of your business model, products and services, and robust risk-management and control frameworks.
• Firms that choose not to apply must fully run off their UK business before the regime starts.
• FSMA-authorised firms carrying out cryptoasset activities without applying will be operating without permission.

Reach out if you would like support navigating the new regime.