The UK’s Financial Conduct Authority published its most comprehensive crypto rulebook on June 30, 2026, bringing a wide swath of cryptoasset activities under FCA oversight for the first time, covering prudential standards, market abuse provisions, and specific requirements for stablecoin issuers.
What the new rules actually require
The regulatory framework stems from the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, which Parliament passed in February 2026. Firms wanting to operate under the new regime can submit authorization applications starting September 30, 2026, through February 28, 2027. The full framework doesn’t kick in until October 25, 2027.
One notable concession to industry feedback: capital requirements for stablecoin issuers landed at 1% of issuance volume, half the 2% initially proposed.
The market abuse provisions mirror what traditional financial markets have dealt with for decades, covering insider trading rules, manipulation prohibitions, and disclosure obligations applied to crypto tokens and exchanges.
