On 30 June 2026, the Financial Conduct Authority (FCA) published the final rules for the UK’s new crypto regulatory regime. The framework mainly affects crypto businesses rather than individual investors, and most of the new rules will not come into force until 25 October 2027.
For UK investors, the tax position remains unchanged. Crypto gains and income continue to be calculated and reported under HMRC’s existing rules, regardless of whether a platform is authorised under the new FCA regime.
What does change is the regulatory standard that exchanges, custodians, stablecoin issuers and staking providers will need to meet if they want to continue serving UK customers. For investors, the practical point is to understand which protections the new regime introduces, when they will apply and why FCA authorisation should not be confused with tax compliance.
What did the FCA finalise in June 2026?
Until now, the FCA’s oversight of most UK crypto businesses has mainly focused on anti-money laundering registration and financial promotions. The final framework expands this perimeter by bringing a broader range of cryptoasset activities within the UK’s financial services regulatory regime.
From 25 October 2027, firms carrying out regulated cryptoasset activities in the UK will need FCA authorisation. This includes crypto trading platforms, intermediaries, custodians, stablecoin issuers and businesses arranging staking, as well as firms providing certain dealing, lending and borrowing services. The rules that apply will depend on the services offered and the firm’s business model.
The authorisation window will run from 30 September 2026 to 28 February 2027. Existing FCA registrations do not automatically carry over: firms currently registered under the UK’s anti-money laundering regime must apply separately for authorisation if their activities fall within the new regulatory perimeter. Firms that are already authorised for other financial services may need to vary their existing permissions.
Until the new regime begins in October 2027, the existing rules on anti-money laundering controls and crypto financial promotions will continue to apply. The June announcement therefore confirms the standards firms will need to meet in the future; it does not introduce an immediate change to the tax treatment of crypto investors.
What do the new FCA rules mean for UK crypto investors?
Once the regime begins, firms serving UK customers will need the appropriate FCA authorisation for the regulated activities they provide. This will affect how exchanges, custodians, stablecoin issuers, staking providers and other crypto businesses can operate in the UK.
What will change under the new regime?
FCA-authorised crypto firms will have to meet broader standards covering governance, financial resilience, custody of customer assets, disclosures and market conduct. Trading platforms will also be subject to rules intended to address market manipulation and improve the integrity of crypto markets.
For investors, this should make it easier to understand which firms are authorised to provide regulated services in the UK and what standards those firms are required to meet. UK-issued qualifying stablecoins will also be subject to specific requirements around backing and redemption.
Do the new FCA rules change your crypto tax obligations?
No. The new FCA regime changes how crypto firms are regulated, but it does not change how individuals calculate or report crypto gains and income.
HMRC’s existing tax rules continue to apply: selling crypto for pounds, exchanging one cryptoasset for another, using crypto to make a purchase or giving it away can constitute a disposal for Capital Gains Tax purposes. Crypto received through employment, mining or other activities may instead be subject to Income Tax, depending on the circumstances.
The regulatory status of the platform does not alter the tax treatment of transactions carried out through it. Gains, losses and income do not become exempt because an exchange is FCA-authorised, nor do previous transactions stop being relevant if a platform later leaves the UK market or fails to obtain authorisation.
FCA authorisation also does not mean that the platform will calculate or report your personal tax position for you. You remain responsible for keeping sufficient records, combining activity across the exchanges and wallets you use, and reporting the correct figures to HMRC — tasks that Finbooks helps simplify by bringing your crypto tax data together in one place.
FCA authorisation and CARF reporting are separate
FCA authorisation and the Cryptoasset Reporting Framework serve different purposes.
The FCA regime determines which firms can provide regulated crypto services in the UK and the standards those firms must meet. CARF, by contrast, requires cryptoasset service providers to collect and report information about users and transactions to HMRC.
CARF has applied since 1 January 2026. The first reports will cover transactions carried out between 1 January and 31 December 2026 and must be submitted to HMRC between 1 January and 31 May 2027.
Again, this does not change how your gains or income are taxed. What it does change is HMRC’s visibility of crypto transactions, as it receives more structured information that can be compared with the figures reported by taxpayers.
A platform may therefore be preparing for FCA authorisation and CARF reporting at the same time, but the two obligations should not be confused: one concerns the regulation of the business, while the other concerns the reporting of customer and transaction data.
Keep your crypto tax records organised with Finbooks
The new FCA regime does not change your tax obligations, but it does underline the importance of keeping a clear and complete record of your crypto and investment activity.
Your crypto tax position depends on the full history of your transactions, not on whether a platform later becomes FCA-authorised, changes its UK offering or leaves the market. Sales, swaps, fees, staking income and transfers between your own wallets may all affect the figures you need to report to HMRC.
This is why retaining access to complete transaction data matters. A balance at year-end or a summary from one exchange is not enough if you have used several platforms, moved assets between wallets or acquired crypto in earlier tax years.
Start by creating a free account and importing your crypto transactions into Finbooks. You can connect exchanges and wallets, reconcile transfers, organise your activity and calculate the gains, losses and income relevant to your UK tax position. This gives you a consistent record even if the platforms you use change their services or regulatory status.
As FCA authorisation and CARF reporting make the UK crypto market more structured, the responsibility for reporting the correct tax figures remains with you. Finbooks helps bring the underlying data together so you can prepare those figures with less manual work and a clearer audit trail.
