FCA sets cryptoasset firms a 2026 transitional filing window

The FCA’s PS26/18 guidance sets out the authorisation boundary for cryptoasset activities under the UK’s forthcoming regime. The FCA published the final guidance on 16 September, ahead of the new perimeter taking effect and a defined transitional filing period.

From 25 October 2027, the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 will bring new regulated cryptoasset activities into the FCA perimeter. Existing registrations and permissions will not convert automatically, and firms seeking transitional treatment can apply between 30 September 2026 and 28 February 2027.

The activities and firms within scope

The guidance applies to firms carrying out, or planning to carry out, activities including safeguarding cryptoassets, operating trading platforms, arranging deals and staking. It also covers existing authorised firms, businesses registered under the Money Laundering Regulations, payment and electronic-money firms, traditional finance groups, overseas providers serving UK consumers and firms seeking cryptoasset permissions.

A business carrying on one of those activities by way of business in the UK will need authorisation unless a relevant exemption applies or it can rely on savings or transitional run-off provisions. The guidance helps firms determine whether their activity falls inside the new regime and whether an existing authorised business needs a variation of permission.

The record does not say that every firm in the affected cohorts will qualify for transitional treatment. Firms must assess the activity being performed, any applicable exemption and the relevant transitional provision before deciding whether an application is required.

A defined transitional filing window

The application window for firms seeking to use the transitional arrangements opens on 30 September 2026 and closes on 28 February 2027. That creates a defined filing period before the new regulated activities enter the perimeter.

The FCA’s immediate instruction is for firms to read the guidance and establish whether they need authorisation or a variation of permission. PS26/18 does not provide a cost, staffing or application-processing estimate.

The FCA also plans to consult on further perimeter changes in late 2026, following a government statutory instrument amending the underlying regulations. Additional guidance is targeted for early 2027. The consultation is planned rather than scheduled as a fixed event in PS26/18.

The FCA said it will support firms through webinars and its pre-application support service. Dual-regulated firms should also contact the PRA.

The next fixed event identified in the guidance is 30 September 2026, when the transitional application window opens. The late-2026 consultation and early-2027 guidance plans remain the further official signals identified in PS26/18.