It covers stablecoin issuance, the operation of crypto platforms, transactions, safeguarding cryptoassets, and staking. The reforms help companies determine which permissions they need to operate under the new regime.
Existing registrations and permissions will not be automatically converted under the new regime. The FCA will begin accepting applications on September 30 for the transitional regime, which starts on October 25, 2027. Applications can be submitted until February 28, 2027. The regulator also plans to consult on further changes in late 2026.