The publication of the SI marks the latest regulatory development in the UK’s rapidly evolving cryptoasset landscape.
By Stuart Davis, Gabriel Lakeman, Brett Carr, Sam Maxson, and Emma Trankeenan
Key Points
- On 15 December 2025, HM Treasury published the final draft statutory statement (the SI) setting out how activities in relation to qualifying cryptoassets (QCs) will be regulated in the UK.
- The SI amends primary and secondary legislation to incorporate QCs and new specified cryptoasset activities within scope of UK regulation; the SI also introduces admission to trading of QCs and market abuse regimes.
- Once the new regime comes into force on 25 October 2027, performing one of these new specified activities in relation to a QC by way of business in the UK will require full FCA authorisation.
The SI follows consultation on a draft SI published in April 2025, however incorporates substantive amendments following significant industry comment and engagement.
This publication provides key takeaways from the SI, a detailed analysis on all the topics covered by the SI, and a glossary of key terms.