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UK Finalises Crypto Rules, Sets Sept 2026 for Licence Applications
UK's FCA finalises crypto rulebook with Sept 2026 licence window. Stablecoin capital requirement cut to 1% after industry pushback. Regime takes effect October 2027.
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The UK's Financial Conduct Authority published its final cryptoasset rulebook on Wednesday, establishing a licensing regime for exchanges, custodians, brokers, and stablecoin issuers that takes effect in October 2027. Firms can begin applying for authorisation on September 30, 2026, with the window open until February 28, 2027.
The framework cuts the capital requirement for non-systemic stablecoin issuers to 1% from the 2% originally proposed, after industry feedback that the higher figure could constrain growth. Reuters reported the revised capital threshold. Systemically important stablecoins remain under Bank of England oversight.
Beyond stablecoins, the rules introduce governance, custody, and market-integrity standards that bring crypto firms closer to the expectations placed on traditional financial institutions. The FCA said the regime targets fraud, conflicts of interest, and market manipulation. Firms must also meet new disclosure and operational-risk requirements.