The UK Financial Conduct Authority (FCA) has released a comprehensive regulatory framework for digital asset firms. The new rules are scheduled to take effect on October 25, 2027, with the licensing application process officially opening on September 30, 2026.
The legislative foundation for this framework was established by the government in February, followed by the FCA's final rule approval in June. Recent amendments were introduced to clarify requirements for specific technical service providers, with further consultations on market makers, decentralized protocols, and stablecoin issuers planned for October.
To assist companies during the transition, the regulator has launched a series of webinars and opened registration for preliminary consultations. David Geale, Executive Director of Consumers, Payments and Competition at the FCA, emphasized that the guidance aims to provide the industry with necessary clarity regarding legal compliance.
Additionally, the UK government announced in late August that the Bank of England will be tasked with supporting innovation in payment systems and new forms of digital currency, including stablecoins.
