CP26/13: Cryptoasset Perimeter Guidance
Summary
The FCA has published consultation paper CP26/13 seeking feedback on draft perimeter guidance for the UK's future crypto regime. The guidance identifies seven regulated cryptoasset activities requiring FCA authorization, including issuing qualifying stablecoins, safeguarding cryptoassets, operating trading platforms, and dealing in or arranging cryptoasset transactions. Responses are invited by 3 June 2026.
What changed
The FCA is consulting on draft perimeter guidance to clarify which cryptoasset activities will require authorization under the UK's new crypto regime, established by the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026. The guidance covers seven activity types: issuing qualifying stablecoins, safeguarding or arranging safeguarding of qualifying cryptoassets and relevant specified investment cryptoassets, operating a qualifying cryptoasset trading platform, dealing in qualifying cryptoassets as principal or agent, arranging deals in qualifying cryptoassets, and arranging qualifying cryptoasset staking.
Cryptoasset firms, stablecoin issuers, and traditional finance firms should review the proposed definitions to determine if their activities will require FCA authorization. Firms planning to enter the UK crypto market should consider the September 2026 application timeline and assess compliance requirements accordingly. Overseas firms providing services to UK consumers should also evaluate whether the perimeter guidance affects their regulatory obligations.
What to do next
- Provide feedback on the proposed perimeter guidance via the FCA's online response form by 3 June 2026
- Review the consultation to determine whether any current or planned activities fall within the regulated perimeter
- Monitor for the FCA's final perimeter guidance expected in autumn 2026
Archived snapshot
Apr 15, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
CP26/13: Cryptoasset perimeter guidance
Consultation opens 15/04/2026 15/04/2026 Consultation closes 03/06/2026
Consultation papers First published:
15/04/2026
Last updated: 15/04/2026
We’re consulting on our proposed perimeter guidance for the UK’s future crypto regime.
Why we are consulting
Crypto firms will be able to start applying for authorisation from September 2026, in line with the perimeter set by the legislation.
We are, therefore, consulting on draft perimeter guidance to help firms understand when authorisations will be required.
We want feedback on our interpretation of the perimeter of the following regulated cryptoasset activities:
- Issuing qualifying stablecoins in the UK.
- Safeguarding, or arranging safeguarding of qualifying cryptoassets and relevant specified investment cryptoassets.
- Operating a qualifying cryptoasset trading platform.
- Dealing in qualifying cryptoassets as principal.
- Dealing in qualifying cryptoassets as agent.
- Arranging deals in qualifying cryptoassets.
- Arranging qualifying cryptoasset staking. The proposed guidance supports our aim for an open, sustainable and competitive crypto market people can trust, and builds on our previous consultations in our crypto roadmap.
Who this is for
This CP will primarily interest firms that participate in, or support the services of, regulated cryptoasset activities.
It will also interest organisations and individuals, both domestically and internationally, from the cryptoasset sector.
Who needs to read this document:
- Cryptoasset firms (including firms based overseas) providing services to UK consumers.
- Stablecoin issuers.
- Traditional finance firms and market participants.
- Industry groups/trade bodies.
- Professional advisers.
- Law firms and consulting firms advising on cryptoassets.
- Consumer groups and individual consumers.
- Policy makers and other regulatory bodies.
- Industry experts and commentators.
- Academics and think tanks.
- Other firms or professional bodies involved in cryptoassets.
Next steps
We welcome views on our proposals by 3 June 2026.
Provide your feedback via our response form:
We will consider responses to all the consultations as part of the crypto roadmap and intend to publish our final rules in policy statements this summer. We will publish our final perimeter guidance in the autumn.
Background
In February 2026, Parliament made the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 to bring new cryptoasset activities within our regulatory remit.
We set out the timeline for regulation in our crypto roadmap. The FCA has consulted on stablecoin issuance and cryptoasset custody (CP25/14), prudential rules (CP25/15 and CP25/42), the application of the FCA Handbook (CP25/25 and CP26/4), regulating cryptoasset activities (CP25/40), and admissions and disclosures and market abuse (CP25/41).
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