Fintech, digital assets, payments and consumer credit | UK Regulatory Outlook March 2026

Fintech 

New cryptoasset regulated activities regime 

New cryptoasset regulations were made and published on 4 February 2026, alongside an explanatory memorandum. The rules establish a regulatory regime for cryptoasset activities, amending existing legislation to define the categories of regulated cryptoassets and specify activities related to these cryptoassets as regulated activities. 

The new regulated activities include: issuing qualifying stablecoin; safeguarding of qualifying cryptoassets and relevant specified investment cryptoassets; operating a qualifying cryptoasset trading platform; dealing in qualifying cryptoassets as principal or agent, or arranging deals in qualifying cryptoassets; and qualifying cryptoasset staking. Firms will need to be FCA authorised or exempt to carry on these activities. 

The new regulations also establish a new admissions and disclosures regime for public offers of qualifying cryptoassets and their admission to trading on a qualifying cryptoasset trading platform, together with a market abuse regime. There are also consequential amendments to other instruments, such as existing anti-money laundering and financial promotions requirements for cryptoasset firms, to reflect the new regulatory perimeter. 

The new cryptoasset regime is expected to come into force on 25 October 2027. The application period for firms wishing to undertake the new cryptoasset regulated activities will be open from 9.00am on 30 September 2026 until 11.59pm on 28 February 2027. 

The FCA has also published financial promotions guidance for cryptoasset firms which are not authorised or registered with the FCA under money laundering rules, and currently rely on an authorised firm to approve their financial promotions. 

Consumer finance 

FCA policy statement on buy-now, pay-later 

On 11 February 2026, the FCA published its final rules on regulating buy-now, pay-later products. The interest-free "pay-later" option increasingly offered at online and in-store checkouts is currently unregulated. That will change on 15 July 2026, when buy-now, pay-later – now defined as deferred payment credit (DPC) – is brought within the regulatory perimeter for the first time. 

Following the consultation process and feedback from industry, the FCA has confirmed that it will implement the rules and guidance consulted on with only minor changes to ensure these work as intended and expectations are clear. 

For more detail, please see this earlier Insight.