Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 made and published

The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 were made and published with an accompanying explanatory memorandum. The statutory instrument (SI) introduces a comprehensive UK regulatory framework for cryptoassets under the Financial Services and Markets Act 2000 (FSMA). This follows the draft version laid before Parliament in December 2025, which we covered previously here. The transitional and savings provisions in the SI enable the FCA to specify a relevant application period and provide for the treatment of, and obligations on, those that do or do not secure all relevant authorisations within that period. This applies to firms seeking authorisation for the first time, FSMA- authorised firms needing to vary permissions, payments and e-money firms, firms that may be accessing the market through section 21 approvers, and firms which are FCA-registered for the purposes of the money laundering regime. The FCA confirmed through its updated webpage that this will be open from 30 September 2026 until 28 February 2027. The provisions enabling the FCA to make or approve rules, guidance, directions etc., in relation to the new regime come into force on 26 February. The go-live date for the new regime is 25 October 2027.

For further background on the new cryptoassets regime, you may wish to view our webinars on: (i) the new licensing rules and FCA proposals; (ii) the proposed application of the FCA Handbook and prudential rules; and (iii) the trading platforms, admission to trading and market abuse regime.

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