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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesThe FCA’s crypto rules create two different tasks: firms must work out whether they need current registration, prepare for the incoming authorisation regime and check how they market to UK consumers; consumers should understand what FCA status does—and does not—mean. The steps below separate those tracks. They explain the FCA’s position as of 4 October 2026, not legal advice or a way to remove crypto investment risk.
1. Identify whether you are a consumer or a cryptoasset firm
Start with your role. The FCA’s registration, authorisation and financial-promotion duties concern firms and other parties carrying on relevant activities. A consumer’s practical task is different: understand the status of the firm or promotion they encounter, and the risks of the product.
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If you run a business, do not assume that the consumer-facing checklist is enough to establish compliance. If you are considering buying crypto, do not treat a firm’s regulatory status as a guarantee that an investment is safe.
2. For firms, map your activities and UK connection
Work out what services the business actually provides, how it provides them, and where those activities take place. The current Money Laundering Regulations (MLRs) registration requirement applies to specified cryptoasset services carried on by way of business in the UK; the precise perimeter depends on the activity. Having a UK customer does not, by itself, establish that every company has the same registration obligation.
The FCA’s guidance on the cryptoasset AML/CTF regime and MLR registration ahead of the new FSMA regime is the starting point for assessing scope. If your activities or UK connection make the perimeter uncertain, obtain independent legal or compliance advice rather than relying on a general checklist.
3. Check whether current MLR registration is required before operating
If the MLR registration requirement applies to your business, you must register with the FCA before starting the relevant services. The FCA describes registration as a legal requirement, not an endorsement or recommendation of the business. Registration therefore should not be presented to customers as an FCA approval of a product or as proof that an investment is safe.
Use the FCA’s cryptoasset registration application guidance to check the application requirements. The existing MLR requirement remains relevant ahead of the new regime; it is not replaced merely because the new regime has an application gateway.
4. Prepare for the new regime—and distinguish it from current registration
As of 4 October 2026, the FCA says applications for authorisation under the new regime can be submitted through Connect during the application period shown below. The FCA’s stated dates are:
| Milestone | FCA-stated date or detail |
|---|---|
| Application period | 30 September 2026 to 28 February 2027 |
| Scheduled start of the new regime | 25 October 2027 |
| Application channel | Connect |
These are the FCA’s published dates, so check its preparation guidance and new-regime overview for updates before acting. Current MLR registration and future authorisation under the Financial Services and Markets Act (FSMA) regime are distinct. Do not assume that holding MLR registration is equivalent to obtaining future FSMA authorisation.
5. Review every promotion and the route used to communicate it
Before marketing cryptoassets to UK consumers, identify how each promotion will be communicated and which of the four lawful routes identified by the FCA applies. The regime can apply regardless of a firm’s location or the technology it uses. Websites, apps, social posts and online advertising can all be communications that amount to a financial promotion.
The FCA sets out the applicable routes and its guidance on promotions and fiat-to-crypto on/off-ramp services on its financial promotions page. If a firm communicates a financial promotion in breach of section 21 of FSMA, the FCA says the potential criminal penalty is up to two years’ imprisonment, an unlimited fine, or both. That is a possible legal penalty, not a routine or automatic outcome.
6. Build readiness around the FCA’s actual standards
A future application is not simply a request to be listed or registered. The FCA has published standards covering threshold conditions, the Consumer Duty, and senior managers and certification. Firms should use the FCA’s standards guidance alongside its detailed application requirements to identify what their business must demonstrate.
Translate those requirements into work owned by the relevant teams—for example, governance, customer outcomes and senior accountability—rather than treating “get registered” as a complete readiness plan. Where interpretation or implementation is uncertain, independent legal or compliance support may help a firm assess its position; no adviser can guarantee FCA authorisation.
7. For consumers, treat regulatory status and investment risk separately
The FCA warns that cryptoassets remain high risk. Consumers should be prepared to lose all their money and should not expect Financial Services Compensation Scheme (FSCS) compensation if things go wrong. Those risks do not disappear because a firm is registered or because a promotion uses a lawful route.
Check the FCA’s guidance for firms marketing to UK consumers to understand the regulatory context, but do not mistake regulatory compliance for a recommendation to invest. A decision to buy crypto remains a decision to accept the possibility of losing the amount invested.
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