FCA to roll out stricter crypto regulations by 2026
The U.K.’s Financial Conduct Authority (FCA) is preparing to roll out a significantly stricter set of crypto regulations by 2026.
According to senior FCA official Matthew Long, director of payments and digital assets, the FCA will introduce a new authorization "gateway regime", which will require crypto firms to undergo a full approval process, beyond the current anti-money laundering (AML) registration framework, СoinDesk reported.
The upcoming regulatory overhaul aims to establish a more robust structure for overseeing crypto-related activities. The new rules will apply to a broader range of services, including stablecoin issuance, exchanges, staking platforms, lending services, and crypto payments. This represents a notable shift from the FCA’s existing regime, under which companies could register solely for AML compliance.
Low approval rates suggest challenges ahead
Since launching its AML registration system in 2020, the FCA has received 368 applications from crypto-related firms. However, just 50 companies—or roughly 14%—have been approved, highlighting the regulator’s cautious approach. Under the forthcoming regime, even previously approved companies like Coinbase, Gemini, and Bitpanda will be required to reapply under the new, stricter standards.
The FCA plans to release policy papers later this year outlining its approach to specific areas, including stablecoins, trading platforms, and staking services. These publications will lay the groundwork for the full implementation of the 2026 regulatory framework.The FCA is launching a new five-year strategy to encourage greater public participation in regulated financial markets. This includes educating the public about the benefits of investing in stocks and bonds and supporting firms that promote safe, long-term investment instruments.
Industry faces deadline to prepare for compliance
The FCA has emphasized that it will undertake formal consultations and legislative steps before finalizing the regime. However, the timeline gives the industry just over a year to prepare. Companies operating in the U.K. crypto sector will need to reassess their compliance strategies and potentially requalify under the new rules.
As the U.K. positions itself to become a leader in responsible crypto regulation, industry stakeholders will be watching closely to see how the forthcoming rules reshape the market landscape.
We also reported that the FCA is launching a new five-year strategy to encourage greater public participation in regulated financial markets. This includes educating the public about the benefits of investing in stocks and bonds and supporting firms that promote safe, long-term investment instruments.
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