Overview and key takeaways

The FCA published its final crypto rules in June 2026 through five policy statements. At the time, it signalled that some deferral arrangements would be needed. CP26/32 now delivers on that, proposing deferrals in three areas:

• Admission and disclosure (A&D) requirements: a deferral of up to six months of the pre-admission assessment and qualifying cryptoasset disclosure document requirements for qualifying cryptoassets already trading on UK qualifying cryptoasset trading platforms before the operator is authorized, with related relief for intermediaries dealing or arranging deals in those assets.
• Execution venue requirements: a three-month deferral (to 25 January 2028) for UK-authorized dealers and arrangers…