Client Briefing: UK Regulatory Framework for Crypto

The FCA has published CP26/36, draft amendments to its cryptoasset perimeter guidance including new exclusions and guidance on decentralisation, and GC26/7, draft guidance for authorised firms using DeFi. Both close on 18 November 2026.

The FCA's cryptoasset authorisation gateway opened on 30 September 2026 and the application period closes on 28 February 2027. Here is how the gateway works, and what happens to firms that apply late or not at all.