New crypto rules to unlock growth and protect customers
Summary: Regulatory milestone (15 December 2025): The government and FCA confirmed the path to full crypto authorisation — building on earlier consultations and leading to final rules in June 2026. Exchanges and custodians will need FCA approval on a fixed timetable. This summary is independent — confirm dates on gov.uk.
Where this sits in the timeline
This December 2025 gov.uk announcement bridged consultation and final rules. It confirmed that crypto exchanges, custodians and related firms would move from AML registration alone to full conduct supervision. The June 2026 publication set detailed requirements; October 2027 is the hard deadline for unauthorised operation.
What consumers gain
Stronger capital buffers, clearer client asset segregation expectations, and market integrity standards should reduce sudden platform failures and improve disclosure. Regulation does not remove price volatility or scam risk.
What firms must prepare for
Businesses should begin gap analysis against FCA rules, book pre-application meetings from July 2026, and submit authorisation applications during the September 2026 – February 2027 window.
Frequently asked questions
Is this different from the June 2026 final rules? +
Yes — December 2025 was the policy confirmation; June 2026 published the detailed rulebook. Read both summaries or our landmark rules guide for the full picture.