UK FCA sets crypto authorization guidance ahead of September application window
The FCA’s new guidance outlines which crypto activities may require authorization as firms prepare for the UK’s incoming digital asset regulatory regime.
The UK Financial Conduct Authority has issued final guidance outlining when crypto activities may require authorization under the country’s incoming regulatory regime.
The guidance covers activities such as issuing qualifying stablecoins, operating crypto trading platforms, dealing and arranging transactions, safeguarding cryptoassets and arranging crypto staking. It is intended to help firms determine whether their activities fall within the regulatory perimeter and which permissions they will need to operate under the new framework.
Existing registrations and permissions will not automatically convert under the new regime, meaning firms will need to determine whether they require FCA authorization or a variation of permission.