Regulation · Instrument · United Kingdom · Policy statement (final rules) · Financial Conduct Authority
FCA PS26/10: Stablecoin issuance
Final conduct rules for issuers of UK qualifying stablecoins, including the backing asset and redemption framework and the new CASS 16 safeguarding chapter for backing assets.
Final, not yet in force · effective 25 Oct 2027 · part of UK cryptoasset regulatory regime (FSMA cryptoasset activities)
Key points
- Simplifies the backing asset composition requirement so issuers no longer need to forecast redemptions, and allows up to a 5% excess in the backing asset pool.[1]
- Adjusts redemption timelines to be operationally workable and clarifies how redemption duties apply to the secondary market.[1]
- CASS 16 sets how stablecoin backing assets are safeguarded.[1]
- Responds to CP25/14; the rules apply to firms authorised under FSMA on or after 25 October 2027.[1]
Timeline
- 30 Jun 2026 · FinalPS26/10 published.[1]
- 25 Oct 2027 · In force · upcomingRules apply at full commencement of the regime.[1]
Deployments operating under it
None recorded with a source yet.
Sources
- [1]Cryptoasset regime: final rules and guidance (policy statements PS26/9 to PS26/13) — Financial Conduct Authority, 30 Jun 2026. Accessed 12 Oct 2026.A