FCA Publishes Guidance on Cryptocurrency Regulatory Framework Implementation

The UK Financial Conduct Authority (FCA) has published guidance on determining whether business operators qualify for authorization under the upcoming cryptocurrency regulatory framework, set to be implemented in October 2024. The guidelines cover activities including eligible stablecoin issuance, cryptocurrency exchange platform operations, trading and brokerage services, custody, and staking intermediation. The FCA will begin accepting authorization applications from October 30, with detailed guidance on technology providers and decentralized protocols to be discussed further in October.