The FCA's new cryptoasset regime: Don't underestimate the task ahead

With the FCA publishing its final policy statements for the UK's new cryptoasset regime, firms now have greater clarity on what authorisation will involve. While the application window may still seem some way off, the time to prepare is now.

Authorisation under the new regime will require firms to demonstrate far more than regulatory knowledge. The FCA will expect robust governance, effective systems and controls, clear accountability, financial resilience and comprehensive documentation to support every aspect of the business.

The key message is simple: don't underestimate the size of the task ahead. Preparing a high-quality application takes time, planning and coordination across the business. Firms that leave preparation until the application window opens risk unnecessary delays and avoidable challenges.

Our team combines extensive industry and regulatory experience, including those who have worked within the FCA's cryptoasset teams and have first-hand knowledge of the regulator's approach and expectations. We have also successfully supported a number of cryptoasset firms through the FCA's cryptoasset registration process. This combination of regulatory insight and practical implementation experience enables us to help firms identify gaps early, build proportionate governance and compliance frameworks, and prepare robust, well-evidenced applications.

We don't believe in off-the-shelf solutions. Every firm has a different business model, operating structure and risk profile. That means the regulatory requirements need to be applied proportionately, not simply copied from another firm. Our approach is tailored to your business, ensuring your application reflects how your firm operates while meeting the FCA's expectations.

Whether you need end-to-end support, from regulatory strategy through to submission of your application, or independent check and challenge of work completed by your own team, we can provide support that is proportionate to your needs.

One thing is certain: firms should be picking up the pen on their regulatory business plan now. The strongest applications won't be written in a few weeks—they will be developed over many months, with governance, policies and evidence evolving alongside the business.

Those firms that start preparing early will be best placed when the application gateway opens. If you're considering how your business will approach FCA authorisation under the new cryptoasset regime, we'd be delighted to discuss how we can support you - contact@avyse.co.uk