The 24-hour trap: Why the UK’s new crypto rules could catch some firms off guard
CoinDesk·2h ago·Neutral
What Happened
The UK's Financial Conduct Authority published new cryptoasset guidance Wednesday establishing a 24-hour threshold for custody classification. Platforms holding client assets beyond one day during settlement must obtain full safeguarding licenses. Validators and node operators lose tech exemptions when offering dashboards or yield tools. Stablecoin issuers must be UK-established. Consultation closes June 3, 2026. Firms must apply between September 30 and February 28, 2027, or face fines and closure.
Key Entities
UK Financial Conduct AuthorityCryptoasset Perimeter GuidanceStablecoin issuersNode operatorsValidatorsFinancial Services and Markets ActJune 3 2026September 30 2027