Cryptoasset regime · Financial Conduct Authority
United Kingdom
A five-month authorisation window with a binary outcome, and it reaches firms that are not established here at all.
Verified
These claims have been checked against the instrument or the regulator's own material. Where a position is unsettled or a rule is still in draft, the page says so rather than implying certainty.
- First CARF report covers calendar 2026, filed 1 Jan – 31 May 2027 — HMRC
- Gateway opens 30 Sep 2026 and closes 28 Feb 2027 — FCA
- New regime commences 25 Oct 2027 — FCA
- Applies to firms serving UK customers: the overseas persons exclusion in PERG 2.9.17G is disapplied for regulated cryptoasset activities. Note dealing on own account is treated differently
Why this matters now
The authorisation gateway is the single most consequential dated event in the sector right now. It opens on 30 September 2026 and closes on 28 February 2027, and the consequence of missing it is not a fine — it is losing the ability to serve UK customers. The part firms most often get wrong is scope: this binds overseas businesses serving UK customers, not only firms established in the UK.
Who is in scope
Whether this reaches you.
- Exchanges and trading venues serving UK customers
- Custodians and wallet providers
- Overseas firms with UK customers, regardless of where they are established
- Firms making financial promotions to UK consumers
Obligations
What the regime actually requires.
Authorisation
A full application through the gateway, with the systems, controls and senior-manager arrangements evidenced rather than described.
Financial promotions
The UK promotions regime applies to cryptoasset marketing and has its own approval requirements.
CARF reporting
Reporting providers collect from January 2026. The first report covers calendar year 2026 and is filed between 1 January and 31 May 2027.
AML and CFT
Existing registration obligations continue alongside the new regime until it commences.
Dates
When.
| Date | Event |
|---|---|
| Authorisation gateway opens | |
| Gateway closes | |
| First CARF reports to HMRC, covering calendar year 2026 | |
| New regime commences |
What we do
How we help here.
- Scope assessment — whether the regime reaches you at all
- Application preparation and submission
- Systems and controls documentation to the standard actually tested
- CARF readiness and the filing itself
- Financial promotions review
Sources
- 01FCA cryptoasset authorisation materials
Gateway dates and application requirements - 02HMRC CARF guidance
Reporting provider scope and filing deadlines
Does United Kingdom bind you?
Tell us where you are established, where your customers are and what you hold. That is usually enough to answer it — and to say what is already late.