From research to a working plan.
Regulation and authorities
As reviewed on 1 November 2026, the FCA’s registration guidance says its new cryptoasset regime starts on 25 October 2027. Current in-scope UK cryptoasset services must register under the money-laundering regulations before starting. Existing permissions for another financial service do not remove the need to examine the crypto registration requirement.
Exchanges and provider checks
Verify the provider’s legal entity and the basis on which it serves UK customers. The FCA distinguishes carrying on business in the UK from having UK customers alone. Marketing has its own reach. A firm abroad that communicates cryptoasset promotions to UK consumers must consider the UK financial-promotions rules.
Taxes and records
HMRC identifies sales, exchanges for another cryptoasset and purchases made with tokens as potential disposals for capital-gains purposes. Tokens received through work and certain earning activities can trigger income-tax treatment. Maintain sterling valuations, transaction dates and pooled acquisition costs. Exchange transaction reports are inputs to the calculation and may omit the cost records needed.
Starting a business
Create separate workstreams for current registration, customer communications and preparation for the new regime. The FCA’s promotions rules cover websites, apps, social media and advertising. Record the lawful route for each promotion before publishing it. Use the current FCA application guidance to establish the registration evidence and timing relevant to the business.
Banking and payments
Prepare an account-opening dossier showing the company’s activities, customer markets and registration status. Ask the bank how its terms apply to crypto exchange transfers and customer-money flows. Reconcile fiat payments against wallet transactions and retain both records, since HMRC’s guidance requires information beyond an exchange’s transaction history.
Related coverage
Country-specific reporting will appear here as it is published. Explore the jurisdiction’s official updates in the sources above.
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