UK plans crypto firm authorisation with new rules by 2026
The Financial Conduct Authority (FCA) has announced plans to implement a new authorisation regime for crypto firms by 2026, marking a significant shift in the regulation of digital assets in the United Kingdom.
Matthew Long, director of payments and digital assets at the FCA, stated that the upcoming “gateway regime” will require crypto companies to undergo a fresh authorisation process.
"We will have a gateway which will allow authorization. But obviously, we've got to go through those consultations, create those rules and get the legislation for that to take place," Long explained.
The new framework will expand beyond the current anti-money laundering (AML) requirements, introducing stricter rules for stablecoin issuers, trading platforms, staking services, and lending activities.
The FCA plans to release discussion papers on these topics throughout 2025 to ensure transparency and industry engagement.
Since its AML register opened in 2020, only 14% of applicants—50 out of 368 firms—have been approved. Many firms may need to restart the registration process under the new regime.
Long emphasised that companies already registered under AML rules may need additional permissions under the expanded framework.
"Our intention is to bring it live as soon as humanly possible," he said, adding that consultations with stakeholders are ongoing.
The FCA also intends to adapt existing regulations for stablecoins, acknowledging their unique characteristics compared to traditional financial instruments.
"What we're doing in terms of stablecoins is we're making sure that we take the best from current regulation but adapt it for their uniqueness," Long noted.
The roadmap aligns with global efforts to regulate cryptocurrencies, including the European Union's Markets in Crypto-Assets (MiCA) framework.
The FCA aims to balance innovation with consumer protection and market integrity as crypto ownership in the UK continues to grow.
Final policy papers are expected by 2026, setting the stage for comprehensive regulations that could reshape the country's crypto landscape.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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