Readiness scoping ahead of the UK cryptoasset regime
A cryptoasset firm wanted to know what the UK's new authorisation regime would ask of it before committing to an application. MEMA scoped the requirements against its business.
- EarlyScoped ahead of the regime
The challenge
The UK is bringing cryptoasset activities inside the FCA's authorisation regime, with new requirements for firms that until now only needed money laundering registration. The firm needed to know what the regime would ask of its business before deciding how, and when, to apply.
Regulatory context
The new regime makes cryptoasset activities regulated activities requiring FCA authorisation. The FCA opened its application gateway on 30 September 2026. Firms that want to keep operating should apply by 28 February 2027, and the regime takes effect on 25 October 2027.
What we did
- Scoped which parts of the incoming regime would apply to the firm's business
- Set out what the firm would need in place to meet those requirements
The outcome
A clear view of what the new regime will require, so the firm can plan its application.
Client details are presented to protect confidentiality. Outcomes reflect specific engagements and are not a guarantee of results, as every firm's circumstances differ.
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