⚖️Not legal advice. This page is informational only. Always verify against primary sources and consult qualified legal counsel before relying on this information.
United Kingdom
FCA Cryptoasset Regime — Stablecoin Issuance (+ BoE systemic stablecoin regime)
PassedRegulator(s): Financial Conduct Authority (FCA), Bank of England (systemic), HM TreasuryNext review: 2026-10-01
Issuance of qualifying stablecoins in the UK; systemic stablecoins jointly regulated by BoE and FCA once designated by HM Treasury.
Final FCA policy statements published 30 Jun 2026; regime applies from 25 Oct 2027. Authorisation gateway opens 30 Sep 2026 (apply by 28 Feb 2027 for transitional access). BoE consulting on systemic stablecoin code (draft rules Jun 2026, finalise end-2026).
📋 Key Requirements
| Reserves | Backing assets in short-term deposits and government debt, segregated under statutory trust for token holders |
|---|---|
| Redemption | Redemption rights at par for holders |
| Capital | K-SII stablecoin issuance capital requirement set at 1% (reduced from proposed 2%) |
| Attestation | Disclosure and prudential reporting under FCA Handbook |
| Licensing | FCA authorisation; gateway opens 30 Sep 2026, rules in force 25 Oct 2027 |
📅 Timeline & Upcoming Deadlines
🏛️ Licensed / Approved Issuers
No licensed issuers recorded yet.
🪙 Aligned Stablecoins on Atlas
No stablecoins from the Atlas directory are currently aligned with this framework.
📚 Primary & Secondary Sources
- https://www.fca.org.uk/publications/policy-statements/cryptoasset-regime
- https://www.bankofengland.co.uk/news/2026/june/boe-launches-policy-statement-and-draft-rules-on-regulating-systemic-stablecoins
- https://www.skadden.com/insights/publications/2026/07/fca-finalises-core-rules-for-the-uk-cryptoasset-regime