UK FCA issues guidance on who needs authorization under crypto rules

The UK Financial Conduct Authority (FCA) has issued guidance to help firms determine whether they will need authorization under the country’s crypto regulatory framework, which takes effect in October next year. The covered activities include issuing qualifying stablecoins, operating crypto trading platforms, dealing and brokerage, custody, and staking intermediation. The FCA will begin accepting authorization applications on Sept. 30, and plans further consultations in October on detailed guidance for some technology providers and decentralized protocols.