Test Publication content type

  • Consultation open

    05/12/2025

  • Chapter 6 feedback deadline

    22/12/2025

  • Chapters 2-5 feedback deadline

    19/01/2026

FCA research First published: Last updated: 26/10/2026 See all updates

Content summary introduction paragraph first

Then some further copy below.

On this page

Overview of our cryptoassets regime policy statements Table of contents title Our policy statements Timeline title here

Timeline

1

Link title 02

This is the sub-text

2

Link title 03

This is the sub-text

Overview of our cryptoassets regime policy statements

The UK is taking a major step forward. With these policy statements, we deliver a significant package as part of the Cryptoasset Roadmap and a comprehensive regime that puts the UK at the forefront of responsible cryptoasset regulation globally.

This series of policy statements outlines the final regulatory framework for cryptoasset firms, reflecting feedback received through consultation. 
 
It represents a significant milestone in the Cryptoasset Roadmap, providing a clear and comprehensive regime designed to support responsible growth and oversight of the UK cryptoasset market.

Summary

This is a significant milestone for the FCA, for the industry, and for the millions of consumers who engage with firms providing cryptoassets services. It represents the culmination of more than 3 years of intensive work: listening to industry, engaging with consumers, collaborating with international partners, and carefully designing a framework that is proportionate and outcomes-focused. 

This regime sets clear, predictable rules for firms across the full range of regulated cryptoasset activities. It sets standards, strengthens consumer protections, and positions the UK as a trusted, competitive home for responsible cryptoasset innovation. 

The regime is underpinned by the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (the Cryptoassets Regulations), which were passed by Parliament on 4 February 2026. These Cryptoassets Regulations brought a broad range of cryptoasset activities within the FCA's regulatory perimeter for the first time, moving well beyond the anti-money laundering and financial promotions standards that previously defined our role in this market. The full scope of regulated activities under the regime will expand from 25 October 2027. This gives firms time to prepare and adapt.  

To prepare for this legislative change, and to develop the future regulatory regime for cryptoasset firms, we have consulted extensively across 4 discussion papers (DP23/4, DP24/4, DP25/1 and CP25/25) and 10 consultation papers (CP25/14, CP25/15, CP25/16, CP25/25, CP25/40, CP25/41, CP25/42, CP26/4, CP26/8 and CP26/13) since 2023.

In this series of policy statements, we summarise the feedback to these CPs. We also set out our final rules and guidance for all cryptoasset firms that will need to be authorised and regulated by us. 

Table of contents title

Our policy statements

These regimes are primarily set out in CRYPTO 3 (for A&D) and CRYPTO 4 (for MARC). In CP25/41, we set out our proposals for public offers of qualifying cryptoassets and their admission to trading on UK qualifying cryptoasset trading platforms (UK QCATPs), alongside our proposals for MARC.

This policy statement sets out our final regimes for both A&D and MARC. As noted in CP25/41, designing an effective cryptoasset regime is not straightforward, particularly when compared with traditional financial markets.

The characteristics of cryptoasset markets affect both our approach and the extent to which the principle of same risk, same regulatory outcomes can be delivered from the outset.

The relative nascence of cryptoasset markets means that some residual market abuse risk is likely to remain higher than in more established markets.

This means that cryptoasset markets are likely to remain comparatively higher risk, reinforcing the need for ongoing monitoring and iterative refinement of the regime as the market evolves.

Read PS26/9 (PDF)

Timeline title here

1

Step one title

Sub-text in here.

2

Step 2

More text in here for this step.

3

Step number three

Even more copy in this step to see how it looks alongside the other steps that have less copy.

4

Step 4

How do 4 steps look in this content type? Could we add another do you think?

0% completed

1. Is your request about a firm we currently regulate (or have regulated in the past)?

  • We already publish a lot of information about the firms we regulate and authorise. We also give details of those firms which are not authorised and individuals you should avoid.

    Much of the information we hold about firms (and individuals) is information we have received during our day-to-day regulatory work. For example, this could be information from consumers, firms and other people we regulate, journalists, other regulators, the police and other law enforcement agencies and the government.

    This is ‘confidential information’, under section 348 FSMA, and is generally exempt from disclosure, which means we cannot give it to you. This could be information the firm has given us, anything other organisations may have told us, or any information consumers have given us about the firm.

    Unless the information we have received is already publicly available or we have the consent of the relevant ‘person’ (an individual, company or partnership) we are forbidden to share it with the public. Find out more about what information we can share with you.

    Has this information answered your question? If not, please click on the ‘No’ button (above) to continue and answer the next question.

2. Is your request about a specific individual?

  • If you want to find out whether a specific individual is authorised by us, check the Financial Services Register, which lists all the firms and individuals we regulate.We also publish details of those firms which are not authorised by us and individuals you should avoid.

    We can’t give other information about a specific individual. Also some information we hold about a living, identifiable individual may comprise the personal data of that individual.

    If your request is for personal information we hold about an individual who is someone other than yourself, we will not be able to disclose it to you without the consent of the relevant individual.

    Has this information answered your question? If not, please click on the ‘No’ button (above) to continue and answer the next question.

3. Is your request about whether we are currently investigating a firm or individual?

  • You can see details of who we have investigated and the outcome of our investigations in the Final Notices section of our website.

    We don’t usually make public the fact that we are investigating someone. This is partly to protect the effectiveness of our investigation, as publicity might encourage people to destroy or hide evidence. And partly because someone’s reputation can be damaged by us announcing an investigation.

    But once we take formal enforcement action, we generally publish details on our website in the form of a ‘Decision’ or ‘Final’ Notice and associated press statement.  

    Has this information answered your question? If not, please click on the ‘No’ button (above) to continue and answer the next question.

4. Is your request about the time it takes us to decide whether to approve or refuse an application to be authorised?

5. Is your request about what we spend our money on, or how we spend it?

  • You may find the answer to your question here as we publish a lot of information about how we spend money.

    On this website you’ll find details in our Business Plan and budget, the overall costs of public events we have organised and summary details of allowances and expenses claimed by our chairman and executive members of our board.

    Has this information answered your question? If not, please click on the ‘No’ button (above) to continue and answer the next question.

6. Is your request about the number of complaints we have received about a specific firm or individual?

  • We already publish details of the complaints received by banks, insurers, lenders and other firms, and what those complaints were about. See the latest data and the most complained about firms and financial products.

    If we are asked if we have ever received a complaint about a specific firm or individual, we are unable to comment.  

    We do not investigate individual consumer complaints – that is the job of the Financial Ombudsman Service.  

    Has this information answered your question? If not, please click on the ‘No’ button (above) to continue and answer the next question.

7. Is your request about information previously disclosed under the Freedom of Information Act?

  • You may be interested in seeing responses to previous FoI requests we have responded to which we think are of wider public interest. See our Disclosure Log.   

    Has this information answered your question? If not, please click on the ‘No’ button (above) to continue.

  • Thank you. Please complete the following Freedom of information request form.

: Editorial amendment Added revision log to this content type.
Print this page

Request an alternative format

Please complete this form if you require this content in an alternative format.