FCA Finalizes Core Crypto Rules with Tight Timelines

The Financial Conduct Authority (FCA) has finalized its core rules for the UK's cryptoasset regime, marking a significant step towards bringing cryptocurrency firms into the mainstream financial services regulatory framework.

The new rules will apply from October 2027, but firms are advised not to wait until then to prepare. Perimeter analysis, authorisation planning, and systems build should start much earlier.

Key activities that fall within the scope of the regime include operating cryptoasset trading platforms, dealing or arranging in qualifying cryptoassets, safeguarding cryptoassets, issuing stablecoins, and arranging cryptoasset staking.

Firms will need to meet financial resilience requirements, including capital and stress testing expectations, as well as comply with market integrity rules addressing insider dealing, unlawful disclosure of inside information, and market manipulation.