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UK and EU cryptoasset regulation in 2026: MiCAR rollout, FSMA/RAO perimeter expansion, stablecoin oversight and cross‑border implementation for legal teams

Published on: 14 January 2026

Published by a Law360 reporter
Legal News
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Article summary

This article examines how both regimes developed through 2025—tracking the EU's first full year under the Markets in Cryptoassets Regulation, or MiCAR, the UK move towards implementation of its cryptoasset regime, and where the two frameworks are beginning to converge and diverge.

We also look ahead to the supervisory trajectory for 2026 and conclude with practical takeaways for legal teams handling structuring, documentation and cross-border execution risk.

Following MiCAR’s entry into legal application at the end of 2024, 2025 marked the first operational year of the EU regime. Member state authorities continued to process authorisation submissions, with key technical standards and implementing measures moving towards full effect, and transitional arrangements expected to continue into mid‑2026.

In the UK, the statutory perimeter for the future cryptoasset regime has reached its final legislative form, with the government having laid the regulations before Parliament on 15 December 2026. In parallel, the Financial Conduct Authority is consulting on the detailed supervisory rules underpinning the regime, with implementation confirmed for October 2027. Unlike the existing anti-money laundering registration framework—under which firms conducting cryptoasset-related activities are registered solely for AML—the new regime will bring those activities within the UK’s financial services...

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