2026 Cryptoassets Outlook: What's Next For The UK?

2026 marks a pivotal year for cryptoassets in the UK. A new Statutory Instrument laid before Parliament in December 2025 will bring a range of cryptoassets related activities fully within the scope of the Financial Services and Markets Act 2000 (FSMA) regime by October 2027, granting the FCA enhanced powers over the authorisation and supervision of cryptoasset activities. Importantly, there will be no grandfathering mechanism, meaning in scope firms will be required to obtain authorisation and apply through a new gateway which is anticipated to open in September 2026. Firms must therefore undertake a comprehensive assessment to ensure alignment with regulatory expectations. Concurrently, the UK is advancing an ambitious "multi-money strategy", driving forward initiatives on systemic stablecoins, tokenised deposits, and central bank digital currency development.