The FCA Cryptoasset Authorisation Playbook | Kroll

Regulatory Updates

August 5, 2026

The FCA Cryptoasset Authorisation Playbook

A Practical Guide to Preparing for the UK Cryptoasset Regime

On July 8, the Financial Conduct Authority (FCA) published a preview of the application forms that firms will be required to complete when applying for authorization to conduct crypto asset business under the new crypto asset regime.

This preview provides valuable clarity on the questions firms will be expected to answer and the information they will need to supply. Given that the application gateway does not open until September 30, and that the final application forms will not be available until then, this advance guidance is particularly welcome. It represents the most detailed insight firms are likely to receive before the application process formally begins.

The guidance sets out not only the questions applicants will be required to answer, but also the supporting information and documentation they must submit. It distinguishes between documents that must be uploaded as part of the application and those that firms must simply attest are in place, while confirming that such documents can be provided to the FCA on request.

The forms and accompanying guidance will be relevant to two broad categories of firms. First, they will be essential reading for firms seeking authorisation for the first time under the new cryptoasset regime. This includes firms currently registered under the Money Laundering Regulations to conduct cryptoasset business, which will not be grandfathered into the new authorisation regime and will instead need to apply for and obtain full authorisation.

Second, the guidance will be highly relevant to FCA-authorised firms that will need to vary their existing permissions in order to provide cryptoasset services. This includes, for example, brokers wishing to deal in cryptoassets as principal or agent, firms arranging transactions in cryptoassets on behalf of clients, and discretionary investment managers seeking authority to transact in cryptoassets on behalf of managed portfolios. For these firms, the intermediary section of the application forms will be particularly important, as it outlines the cryptoasset–specific information that is likely to accompany a Variation of Permission application.

 

The Application Packs

The application packs are structured around a common set of core questions supplemented by activity-specific sections. Rather than requiring every applicant to navigate a single, generic application, the new framework consists of a common core section for all applicants, supplemented by activity-specific modules tailored to the particular regulated activities for which authorisation is sought.

The core information requirements will be familiar to firms that have undergone the FCA authorisation process in recent years. Each applicant will be required to provide, among other things:

  • A regulatory business plan
  • Details of senior managers, controllers and close links
  • Information regarding IT systems and controls
  • Financial forecasts and projected first-year income
  • Information on financial promotions activity
  • Compliance arrangements and compliance monitoring programs
  • Financial crime prevention frameworks
  • Complaints handling procedures
  • Organizational responsibility and reporting structures identifying senior managers and key decision-makers, together with reporting lines and areas of responsibility
 

IT and Operational Controls

Each firm will be required to complete an IT controls questionnaire and, where relevant, provide detailed supporting documentation regarding its technology infrastructure and operational resilience arrangements.

 

Financial Crime Framework

The application places substantial emphasis on financial crime controls. Every firm must submit:

  • A business-wide risk assessment
  • A customer risk assessment
  • Anti–money laundering (AML) policies
  • Suspicious activity reporting procedures
  • Sanctions controls
  • Travel Rule compliance arrangements
  • Transaction monitoring procedures
  • Operational procedures demonstrating how onboarding, screening, monitoring and escalation processes function in practice

Firms must also explain how alerts will be generated, investigated and documented; how suspicious activity will be identified and reported; and how relevant employees will be trained on AML systems and processes.

Where third-party providers are used for functions such as identity verification, politically exposed person screening or transaction monitoring, the firm will need to explain:

  • Services provided
  • Data sources used
  • Search parameters applied
  • Testing methodologies
  • Frequency of calibration and review of automated systems
 

Records Management

Each applicant must submit a cryptoasset records management policy demonstrating how records are stored, protected and retrieved, together with an explanation of the governance framework supporting records management.

 

Sector-Specific Forms

In addition to the core information requirements, applicants must complete activity-specific sections tailored to the cryptoasset services they intend to provide:

  • Issuing qualifying stablecoins
  • Safeguarding cryptoassets
  • Staking qualifying cryptoassets
  • Cryptoasset lending and borrowing
  • Intermediaries
  • Operating a cryptoasset trading platform (CATP)
Activity-Specific Sections for Cryptoasset Services

Issuing Qualifying Stablecoins

Firms undertaking regulated stablecoin activities will be required to provide extensive information regarding the issuance, redemption and backing of qualifying stablecoins.

Redemption of Qualifying Stablecoin Policy

As part of the application process, every firm must submit a qualifying stablecoin redemption policy explaining how it will ensure holders can redeem qualifying stablecoins at full value within one business day. The policy should describe any fees charged, how those fees are calculated and monitored to ensure they remain fair and reasonable, and how redemption requests will be managed during periods of market stress. In particular, the firm will need to explain how redemption requests will be prioritized and processed and how customers will be informed of any delays or disruptions.

Each applicant must also provide a detailed explanation of the technological infrastructure it uses to enable redemption of the issued qualifying stablecoin and how it works, for example, by way of diagrams such as flow of funds.

Stablecoin Disclosures

Every applicant will need to explain how it will publish disclosures about its qualifying stablecoins. It will need to upload documents that explain how it produces and updates its published stablecoin disclosures showing the internal systems and checks used. The firm will also need to upload the disclosures it will publish on its website and in its qualifying cryptoasset disclosure document (QCDD), in compliance with CRYPTO 2.5.

Backing Asset Policy for Issuing Qualifying Stablecoins

Every firm will be required to submit a backing asset policy setting out:

  • How the backing assets pool is held
  • What type of assets will be used as core backing assets
  • How the assets support the value and stability of the stablecoin

The firm will need to explain how it separates and safeguards backing assets as soon as they’re received so they’re not mixed with other funds. The firm will also need to provide details of the systems controls and oversight it has in place to:

  • Manage backing assets and keep their value to minted stablecoin
  • Maintain liquidity in the backing asset pool to meet redemption requests quickly
  • Check the backing assets daily and resolve any discrepancies

 

However, firms also must confirm their fiduciary duties to act in the best interests of stablecoin holders and the legal arrangements that impose these duties.

Proof of Third-Party Arrangements for Backing Qualifying Stablecoin

When relevant, firms will need to provide details of any unconnected third parties that will be involved in managing banking assets. Each firm will need to upload any documents that show the third parties are unconnected to the firm and its groups and why the firm has chosen the third parties. The firm will need to upload the third-party oversight policies setting out the controls, monitoring reporting and review arrangements in place and any service-level agreements (SLAs), performance measures or governance processes that apply. It also must upload a written acknowledgment from the third party that shows:

  • Stablecoin holders are the beneficiaries
  • The nature of the trust arrangement
  • The scope of the third party’s safeguarding obligations

Proof of Third-Party Arrangements for Issuing Qualifying Stablecoin

Each firm would need to provide details of any third parties it will use for parts of its stablecoin issuance and how it has appointed and contracted with them. The firm will need to upload the details of the third-party issuers, the contract with the third-party issuers and documents that show the due diligence the firm has carried out before appointing each third party.

Expanded Backing Assets Policy

Any firm that uses expanded backing assets will be required to submit a dedicated policy describing the assets used and the risk management tools employed to comply with the backing assets capital and safeguarding (BACS) requirements. The firm will need to upload the written notification completed using the form in CASS 16 Annex 4. The firm will also have to provide 180 days of redemption data for the qualifying stablecoin, including records of all redemptions made during the 180-day period. The firm will also have to upload an attestation signed by the firm that meets the requirements in CASS 16 2.17R and a signed acknowledgment letter from the third-party custodian that meets the requirements in CASS 16.7. The letter should confirm that the custodian holds the backing assets on the firm’s behalf and understands its responsibilities under CASS 16.

Safeguarding Cryptoassets

Firms applying to safeguard or arrange for another to safeguard cryptoassets need to provide details of their systems and procedures for maintaining accurate records of the crypto assets held on behalf of each client.

Records and Reconciliation of Client Cryptoassets Policy

Firms will need to upload their records and reconciliation policies and procedures, and these must show how firms check and maintain accurate books and records each business day. They should include:

  • The reconciliation methods the firm uses each business day to check record accuracy
  • What steps does the firm take to identify and fix any shortfalls when they occur
  • The governance oversight for reconciliation, including who is responsible and how issues are escalated

Each firm will also need to upload a template of the record it will keep for each client. This must show:

  • The type and quantity of crypto assets held for the client
  • The blockchain address for each crypto asse
  • The nature of the client’s claim over the asset
  • The identity of any other party that can affect a transfer

Proof of Safeguarding Trust

Each firm must show how it will act as trustee when safeguarding crypto assets. The firm will need to upload a document that explains how it will settle and operate trusts, including:

  • What type of wallets will it use, such as individually segregated wallets, omnibus wallets or both
  • Whether it will operate a trust for each client or separate trusts for different classes of qualifying crypto asset
  • Whether it will create separate trusts for different virtual addresses
  • How the firm chose its approach for its business model, client base and the qualifying crypto assets it will safeguard

The firm will need to upload a document that sets out the systems, tools and processes it will use to keep client crypto assets separate from the firm’s own assets. This must describe any use of different virtual addresses to support segregation. The firm will need to upload a draft of the proposed trust agreement, which must show:

 

  • How it will hold client crypto assets on trust
  • How it will record client ownership and segregate assets so they are not mixed with other assets

The firm will need to upload any draft disclosure documents it plans to give clients that explain how their crypto assets are held on trust.

Third-Party Crypto Asset Custodian Policy

When a firm is appointing a third-party crypto asset custodian, it must demonstrate to the regulator how it will appoint and oversee third parties that safeguard crypto assets for its customers. The firm will need to upload any written agreements and SLAs with each third party that the firm will use for safeguarding. These must set out how liability is assigned between the firm, the third party and the client. The firm must also upload documents that show the due diligence the firm has performed and the governance steps it followed for each third-party appointment. These should explain:

  • That the appointment is in the client’s best interests
  • The third party’s market reputation and expertise
  • How crypto assets held by the third party are kept separate from assets belonging to the third party or to the firm
  • The third party’s liability if a qualifying crypto asset is lost
  • Written confirmation that the third party has no right of setoff or counterclaim against qualifying crypto assets for any debt owed to it or to any other person

Cryptoassets Means of Access Policy

Firms will need to demonstrate that they have robust security and organizational arrangements to safeguard the means of access to a client crypto asset. This is to ensure firms will be able to protect private keys from loss, theft or unauthorized access. Each firm will need to upload a means of access policy that explains the methods the firm will use, or arrange for a third party to use, to manage and store private keys to safeguard clients’ crypto assets. Firms will also need to explain the technology and security controls they will use to manage and protect private keys. Each firm will need to upload a template of the records it will keep for mapping private keys to client crypto assets.

Staking Qualifying Cryptoassets

Consumer Understanding Policy for Crypto Asset Staking

Every firm must have adequate policies and procedures in place to ensure retail clients are fully informed and understand the risks of staking before engaging in the firm’s services. The firm will need to upload its consumer understanding policy for crypto asset staking, including:

  • A general information document that explains the firm, its staking service and the risks, in line with CRYPTO 10.2
  • The key terms of agreement in line with Crypto 10.3
  • The client communication and consent policy, which shows:
    • How the firm will give retail clients the general information and the key terms of agreement
    • When the firm will seek express prior consent and how the firm will record it
    • That it will notify retail clients about material changes to the general information or the key terms of agreement

Cryptoasset Lending and Borrowing

Collateral Management

Firms offering cryptoasset lending or borrowing services will be required to attest that they will have policies and procedures in place that set appropriate borrowing limits and manage customer collateral throughout the loan term. Each firm will need to upload a site attestation confirming that it will:

  • Set limits for retail clients before offering the borrowing service, such as loan-to-value ratios, margin calls or liquidation levels.
  • Base its limits on modeling and the volatility of the qualifying crypto asset collateral and qualifying crypto assets provided.
  • Not generate revenue from qualifying crypto asset borrowing collateral.
  • Apply negative balance protection so clients cannot lose more than their qualifying crypto asset borrowing collateral, in line with CRYPTO 9.7.
  • Safeguard the qualifying crypto asset borrowing collateral.
  • Only allow auto top-ups with the client’s express prior consent.
  • Limit auto top-ups to 50% of the market value of the initial collateral.

Consumer Understanding

Firms must have policies, procedures and assessments in place to ensure that retail clients are fully informed and understand the risks of lending and borrowing cryptoassets. Each firm will need to upload:

  • Draft key features document
  • Draft key terms of agreement
  • An explanation of how the firm will give retail clients the key features and key terms of agreement, how it will review and update these documents to meet Crypto 9.2, and any templates the firm will use to present this information to retail clients
  • An explanation of the situation in which the firm will ask retail clients for express consent under Crypto 9.3 and how the firm will record this
  • The appropriateness assessment the firm will use to check a retail client understands the risks of qualifying crypto asset lending or borrowing, in line with COBS 10.2A.1R
  • An explanation of what the firm will do when a client does not show the required knowledge under COBS 10.2A.1R, including the steps it will take after identifying that the client does not understand the risks and any criteria it will use to reject a client who does not understand the lending or borrowing risks

Intermediaries

This section will be of particular interest both to firms seeking authorization to conduct crypto asset intermediary activities for the first time and to existing FCA-authorized firms seeking to extend their permissions.

Firms dealing in qualifying crypto assets for retail clients will need to attest that they have policies and procedures ensuring compliance with the FCA’s admission-to-trading requirements and execution venue requirements.

Admission-to-Trading and Execution Venue Policy

A firm acting as an intermediary will be required to attest that it will have policies and procedures in place for dealing in qualifying crypto assets for retail clients. The firm must include:

  • Confirmation that it will have policies and procedures in place to deal or arrange deals in qualifying crypto assets only for retail clients that meet the admission-to-trading requirements in CRYPTO 5.3
  • Confirmation that, for non-overseas retail and elected professional clients, it will execute orders (including received and transmitted orders) only on UK qualifying execution venues in line with CRYPTO 5.2

Order Handling and Execution

A firm acting as an intermediary must have policies in place that explain how it will promptly execute client orders on the most favorable terms and oversee their settlement. Intermediaries will need to upload the firm’s order execution policies and procedures, and these must explain:

  • What best execution factors will consider when executing client orders and how they’ll be applied to retail clients
  • The qualifying crypto asset execution venues that it will use to execute client orders
  • The factors that affect the choice of execution venue for each order
  • How the firm discloses its role before executing client orders, for example as principal or agent
  • If applicable, how does the firm discloses the price at which the order can be executed
  • The circumstances in which the firm obtains a client’s express prior consent and how it will be recorded
  • The firm’s commission and fee structure, showing how charges apply to individual orders on specific execution venues
  • How the firm manages conflicts of interest during order execution
  • How the firm ensures the prompt execution of client orders
  • How the firm oversees the settlement of executed orders

The firm will also have to upload a client-facing template based on the firm’s order execution policy that shows:

 

  • What order execution information it will share with clients before providing the service
  • The medium it will use to provide order execution information to customers

The firm will also have to upload its order handling and allocation policies and procedures explaining:

  • The arrangements, systems or controls it will use to ensure prompt execution of client orders
  • Its approach to aggregating and allocating client orders and transactions for its own account
  • What procedures it will use to prevent reallocation of transactions in a way that disadvantages clients

Intermediaries Dealing as Principal

Firms that intend to deal on a principal basis will be required to explain how conflicts of interest will be identified and managed.

Functional Separation Arrangements

Intermediaries must upload documents that explain how they separate propriety trading from client order execution, including:

  • Proprietary trading activities the firm carries out and the client order execution activities it performs
  • How the firm keeps proprietary trading separate from order execution in practice
  • The clear lines of responsibility for each activity
  • Reporting lines for each activity and how they are kept separate
  • Defined management roles within each activity
  • Information barriers that prevent the sharing of sensitive information between activities

Post-Trade Transparency Attestation

Intermediaries will need to upload a signed attestation confirming that the firm:

  • Has policies and procedures that allow it to publish post-trade transparency information for qualifying cryptoasset transactions
  • Will publish post-trade information when acting as a transparency crypto intermediary, in line with Crypto 7.3

Personal Account Dealing

The FCA also requires firms to maintain controls designed to prevent inappropriate personal transactions by employees and other relevant persons. Details of these policies and procedures must be provided as part of the application.

Operating a CATP

Applications from CATPs are among the most detailed and comprehensive in the FCA’s proposed regime. The firm must explain the structure of its business, including any decision to operate through a UK branch of an overseas firm.

Market Making

Every CATP will be required to upload a market making policy explaining:

  • How market makers will be identified
  • How their activity will be monitored

A firm proposing to enter into any legal, contractual or incentive arrangements with market makers must explain how it will:

  • Document these arrangements and disclose them to customers
  • Design the arrangements to support fair, orderly and efficient trading
  • Monitor the arrangements to check compliance with their terms

Algorithmic Trading

Firms must have policies that explain the rules they will apply to algorithmic trading on their platforms. Each firm must also show how it will disclose information about algorithmic trading to meet FCA requirements. The firm will be required to upload its algorithmic trading policy documents, which must include the firm’s:

  • Rules and objective criteria that will apply to the use of algorithms on the platform, in line with CRYPTO 6.4.2 and 6.4.3
  • Overall approach to algorithmic trading and how it will manage and reduce potential harms
  • Process for creating disclosures about algorithmic trading that are fair, clear and not misleading, as required under CRYPTO 6.2.5(2)

Platform Access Policy

Each firm must have policies in place that explain how its CATP operates for its clients. These should show how the firm gives users fair and orderly trading and how it restricts retail trading to qualifying crypto assets.

The firm will need to upload its operating rules, which should include:

  • The objective rules and criteria for access to the CATP
  • How the firm ensures efficient execution of orders
  • How the firm decides which qualifying crypto assets can be traded on its platform
  • The process and criteria for withdrawing a qualifying crypto asset from trading

If a firm offers services to retail customers, the operating rules should also include how the firm:

  • Directs retail investors to the related QCDD in a clear and accessible way
  • Prevents UK retail investors from accessing qualifying crypto assets intended only for overseas or qualified investors

Every firm should also upload:

  • Any documents that explain the arrangements it uses to manage the CATP’s technical operations
  • A template showing how the firm plans to publish its operating rules for its customers in a way that is fair, clear and not misleading

Conflicts of Interest

CATP operators must have policies and procedures in place that show how they will identify and manage conflicts of interest relevant to their CATP. They must upload their conflicts of interest policy documents for operating CATP, and this must explain how the firm will identify, manage and reduce conflicts of interest from:

  • Qualifying crypto assets the firm issues, arranges to issue or has a financial interest in (set out in CRYPTO 6.2.4)
  • Any personal account dealing by employees or connected individuals (set out in CRYPTO 5.8)
  • Overseeing the settlement of client orders, including the systems and controls used to reduce settlement risk

Operational Risk Management Framework

Every CATP operator must have policies and procedures in place that explain how it will run its CATP and manage risks in its operations. The firm will need to upload how its operational framework meets the requirements in CRYPTO 6 and CRYPTO 7, including how the firm will:

  • Identify, manage and mitigate significant risks to its CATP
  • Run trading systems that are effective and appropriate for the nature and scale of its business, as required in CRYPTO 6.3.2
  • Run trading systems that are effective and appropriate for the nature and scale of its business, as required in CRYPTO 6.3.2
  • Maintain resources and backup facilities to provide pre-trade and post-trade transparency information in line with CRYPTO 7

Admissions to Trading Criteria

Every CATP operator must have a rule book in place that explains how it will admit qualifying crypto assets and qualifying stablecoins for trading on its CATP. The operator will need to upload its admissions criteria policies and procedures, which need to explain:

  • The risk-based objective criteria the firm will use to assess admission
  • How the firm considers the factors listed in CRYPTO 3.2.2
  • Who reviews and approves the criteria, and how often they do this
  • How the firm publishes its criteria on its website
  • How the firm uses the criteria to decide if admission is likely to be detrimental to retail investors
  • The procedures the firm will use to manage conflicts of interest when assessing admission for itself or a group member

The CATP operator must also upload its rulebook and related procedure documents that set out its rules on:

 

  • Providing QCDDs and supplementary documents for crypto assets admitted to trading
  • Admitting any qualifying crypto assets and qualifying stablecoins to trading
  • The form and content of its QCDDs and supplementary documents, in line with CRYPTO 3.4
  • Any withdrawal rights that may apply to qualifying crypto assets and qualifying stablecoins

Market Abuse Detection and Prevention

Every CATP operator must have a framework of policies, procedures and systems in place to detect and prevent market abuse on its platform, as mandated by CRYPTO 4.7. The firm will need to upload its market abuse detection policies, which must explain how its CATP will monitor:

  • Orders and transactions that are executed, received and transmitted
  • Activity or communications relating to a qualifying crypto asset that is subject to an application for admission to trading

The CATP operator must also upload a document that explains the systems and controls it will use to respond to suspected market abuse and how it will:

  • Receive and assess notifications of suspicious orders from intermediaries
  • Halt, suspend or restrict trading when needed

The CATP operator must also upload its platform-specific market abuse rules and procedures. These must set out the firm’s rules for preventing and disrupting market abuse on its CATP platform, including:

  • The tools and controls it uses to disrupt market abuse
  • Its internal controls, such as information barriers and personal account dealing rules
  • How it will use insider lists
  • When it will require public disclosure
  • How it will publish the public disclosures

Post-Trade Transparency Arrangements

Every CATP operator will need to show how it will publish post-trade information after a qualifying crypto asset transaction is executed on its platform, as specified in CRYPTO 7.3.4. The firm will need to upload its post-trade transparency policies and procedures, which must show:

  • How it will identify qualifying crypto asset transactions executed on its CATP
  • What post-trade information will it publish after a qualifying transaction, as required by CRYPTO 7.3.4
  • When and how it will publish post-trade information after execution
  • How it will ensure information is published, unless a deferral applies

The firm will also have to upload its deferral policy explaining:

  • The criteria it will use to decide whether a transaction benefits from a post-trade transparency deferral
  • How it will apply criteria consistently to qualifying transactions

Trading on Own Account

Every CATP operator that will conduct trading on its own account while operating a CATP platform must have policies and procedures in place to ensure that its own account trading takes place outside of its platform. The firm will need to upload its policy, which must explain:

  • The systems and controls that stop its principal trading desk from accessing the CATP to execute trades
  • How the firm makes it clear to customers when they are dealing with the principal trading desk instead of the CATP
  • How the firm will identify and manage conflicts of interest quickly and effectively

Matched Principal Trading

 

Every firm that will be trading on a matched principal basis on its platform must have policies in place that explain how it will manage and oversee this trading. The firm would need to include its governance and oversight process, which must explain how the firm supervises matched principal trading, including:

  • Who is responsible for overseeing the activity
  • How governance and oversight work in practice
  • The escalation procedures the firm will follow when issues arise

The firm must also describe the systems and controls it will use to identify and manage risks, such as:

  • Technology that supports matched principal trading
  • Processes, checks and limits it uses to manage risk

The firm will also need to set out how it reduces the risk of one side of a matched trade failing to settle, including:

  • Systems and controls it uses to monitor settlement
  • Procedures it uses to act if a trade does not settle on time

Large CATPs

Any platform expected to generate an average of £10 million or more revenue over three years will be subject to additional transparency and market abuse obligations. The firm will need to provide upload documentation explaining:

  • How it will comply with its pre-trade transparency obligations under CRYPTO 7.2
  • Its waiver policy, if it has one, including the criteria the firm uses to select transactions that benefit from pre-trade transparency waivers
  • How it will comply with its post-trade obligations under CRYPTO 7.3
  • Its deferral policy, if it has one, including the criteria the firm uses to select transactions that benefit from post-trade transparency deferrals
  • The firm’s on-chain activity monitoring policy explaining how it will monitor on-chain activity and identify activity that may be linked to or constitute market abuse on the CATP under CRYPTO 4.7.22
  • How will the firm meet its disclosure obligations when it has reasonable grounds to suspect crypto asset market abuse under CRYPTO 4.9

Conclusion

The FCA’s preview provides a clear indication of the depth and breadth of information that firms will be expected to provide under the new crypto asset authorization regime. It confirms that applicants will need to demonstrate, through detailed policies, procedures, governance arrangements and supporting evidence, that they have robust operational, compliance, financial crime and consumer protection frameworks in place.

For both new market entrants and existing FCA-authorized firms seeking to expand into crypto asset activities, the publication offers a valuable opportunity to begin preparing documentation before the application gateway opens on September 30.

The sector-specific application requirements demonstrate the FCA’s intention to impose a highly detailed and evidence-based authorization process. Across all categories of crypto asset activity, firms will be expected not merely to assert compliance but to demonstrate it through extensive documentation, governance frameworks, operational policies and client-protection measures.

For many applicants, the principal challenge is likely to be less the completion of the application itself than the preparation of the underlying policies, procedures, attestations and governance arrangements that the FCA expects to see in place before an application is submitted. The publication of these draft forms therefore provides firms with a valuable opportunity to identify gaps in their existing frameworks and begin preparations well in advance of the commencement of the new regime.

How Kroll Can Help

Kroll helps crypto asset firms prepare for FCA authorization by assessing regulatory readiness; strengthening governance and control frameworks; and developing the policies, procedures and documentation required under the new regime.

From gap assessments and financial crime frameworks to operational resilience, safeguarding and application support, our specialists help firms build credible operating models and navigate the authorisation process with confidence.

Speak to Kroll’s experts to discuss how your firm can prepare for FCA crypto asset authorisation, address potential regulatory gaps and develop a robust application that meets FCA expectations.

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