The UK’s financial watchdog is preparing to publish its long-awaited final framework for UK crypto regulation, with the Financial Conduct Authority (FCA) confirming that definitive rules for digital assets will be set out in early summer.
Speaking at the Payments Regulation and Innovation Summit 2026, David Geale, the FCA’s executive director of payments and digital finance, said the regulator was “open for business” and keen to see crypto firms succeed within a clear and competitive regulatory environment. Geale also serves as managing director of the Payment Systems Regulator (PSR).
Final crypto rules nearing completion
Geale told delegates that work was “well underway on building a proportionate and competitive regime” for digital assets in the UK. While he did not give an exact publication date, he said the FCA would “set out our final rules and framework in early summer,” signalling a major milestone for firms operating in the sector.
The FCA has been consulting on its approach to crypto and digital assets since the UK Treasury published a draft Statutory Instrument (SI) in April last year. That legislation is designed to formally bring a wide range of digital asset activities under regulatory oversight, including issuing qualifying stablecoins, safeguarding crypto assets, operating digital asset trading platforms, intermediation services and staking.
Although the draft legislation has not yet been passed into law, Geale said the regulator wants to be fully prepared to implement the new framework as soon as it comes into force.
Consumer Duty and international firms in focus
Geale reminded the audience that the FCA published its final consultation paper on crypto-asset regulation just weeks ago. That paper focuses on how the regulator’s Consumer Duty rules will apply to digital currency firms, as well as how overseas crypto businesses serving UK customers will be treated under the new regime.
He urged firms, innovators and other stakeholders to respond to the consultation by the March 12 deadline, stressing that industry input would play a key role in shaping the final rules.
“We want innovators, regulators, government and industry all involved in shaping the future of crypto in the UK,” Geale said.
National Payments Vision and new technologies
Beyond crypto regulation, Geale outlined how the FCA and PSR are contributing to the UK government’s National Payments Vision, which aims to modernise the country’s payments infrastructure. A central pillar of that vision is the use of emerging technologies to deliver faster, cheaper and more resilient payment systems.
One area receiving particular attention is the development of stablecoins, which are designed to maintain a stable value and could be used for everyday payments.
UK stablecoin ambitions and regulatory sandbox
Geale highlighted the FCA’s regulatory sandbox as a key tool for supporting innovation, noting that it is intended to “support issuers testing UK-issued stablecoins” in a controlled environment.
In December 2025, the FCA set out ambitious growth objectives for 2026, including finalising the digital asset rulebook and advancing the use of sterling-backed stablecoins to enable “faster and more convenient” payments. At the time, the regulator said it would open its sandbox to firms looking to experiment with issuing stablecoins and developing related infrastructure.
Reiterating that commitment last week, Geale said that stablecoins, if implemented correctly, could transform payments in the UK.
“Done well, stablecoins have huge potential to unlock faster, cheaper and more reliable payments,” he said, describing the sector as “an exciting area”.
To accelerate progress, Geale announced that the FCA will run a “stablecoin sprint” next month, aimed at gathering industry views and helping to refine the regulator’s approach ahead of final rulemaking.
The UK has been moving steadily towards a comprehensive crypto regulatory framework since Brexit, with ministers and regulators seeking to balance innovation with consumer protection and financial stability. Previous high-profile crypto failures and market volatility have increased pressure on regulators to act, while industry groups have called for clarity to ensure the UK remains competitive with jurisdictions such as the EU and the US.
With final rules now in sight, the FCA’s early-summer announcement is expected to provide long-awaited certainty for crypto firms operating in or targeting the UK market.