The timeline for the new cryptoasset regime was updated, moving key milestones to later dates.
Before
The previous timeline listed milestones starting from 10 January 2020, with the Travel Rule effective 1 September 2023 and the new regime expected in 2024‑2025.
After
The updated timeline now shows pre‑application support opening in July 2026, policy statements in summer 2026, the application period from 30 September 2026 to 28 February 2027, and the regime coming into force on 25 October 2027.
Source: UK FCA — Crypto Asset Registration
View original source →What this means for you
Centralized Exchange
Worth knowingWhy this matters
As a CEX, the company is subject to licensing and reporting obligations that fall under this new regime. The updated timeline provides more lead time to prepare for the application process and operational alignment.
What to do
Update the internal regulatory roadmap to align with the new application window starting September 30, 2026.
Deadline: Sep 30, 2026
DeFi Protocol
Doesn't applyWhy this matters
The regulatory change concerns the application timeline for a cryptoasset regime requiring an applicant entity. As a fully decentralized protocol with no identifiable operator or controlling party, there is no legal entity to submit an application or be licensed.
Custodian
Worth knowingWhy this matters
The company must align its licensing roadmap and operational readiness with the new 2026-2027 timeline. While the relaxation reduces immediate pressure, the company still needs to prepare for the application window starting September 30, 2026.
What to do
Update the internal regulatory compliance calendar to reflect the new application window and enforcement date.
Deadline: Sep 30, 2026