HM Treasury has today published a policy note and draft statutory provisions that propose amendments to the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026. These regulations, which established a regulatory regime for cryptoassets, were made in February 2026.
The draft statutory instrument (SI) contains proposed changes intended to offer greater certainty for firms looking to provide stablecoin payment services. It also seeks to remove barriers for certain other cryptoasset use cases.
Additionally, the draft SI includes further changes designed to ensure the UK's cryptoasset regime remains internationally competitive. Once the original regulations come into force in October 2027, firms conducting new regulated activities will be required to be authorised by the Financial Conduct Authority (FCA).