FCA Finalizes UK Crypto Framework — Stablecoin Capital Requirement Slashed, Licensing Opens in September
The Financial Conduct Authority has finalized the UK’s crypto regulatory framework, cutting the stablecoin capital requirement to 1 % and enabling applications from September 30, 2026.
The Financial Conduct Authority (FCA) has finalized the UK’s cryptoasset regulatory framework, encompassing exchanges, trading platforms, custodians, and stablecoin issuers. The capital requirement for non‑systemic stablecoins has been halved from 2 % to 1 % following industry consultation.
Applications for authorization will open on September 30, 2026, and close on February 28, 2027. The full regulatory regime takes effect on October 25, 2027. This move brings crypto regulation closer to banking standards in terms of governance, consumer protection, market integrity, and operational resilience.
Although aligned in purpose with Europe’s MiCA framework, the UK’s rules provide a domestic licensing path. This creates a distinct regulatory environment that may shape licensing strategies and competitive positioning through the coming months.
Crypto firms must now plan resource allocation and compliance roadmaps ahead of the September window, potentially driving consolidation and market shifts.
