meta_id 3281774

On June 25, 2026, the Financial Conduct Authority (FCA) published Policy Statement (PS26/9), setting out final rules for the Admissions and Disclosures (A&D) regime and the Market Abuse Regime for Cryptoassets (MARC) under the Designated Activities Regime. These rules implement requirements from the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 . The A&D regime establishes a gateway for qualifying cryptoassets admitted to trading on UK qualifying cryptoasset trading platforms (UK QCATPs). PS 26/9 sets out the following: Bans public offers of qualifying cryptoassets in the UK, subject to certain exceptions including exceptions for offers connected with admissions to trading. New requirements including the specification of a Digital Token Identifier (DTI) standard, refining the limited exception to preparing a qualifying cryptoasset disclosure documents (QCDDs), strengthening withdrawal rights notifications, and clarifying areas such as admission criteria, due diligence requirements and the trigger for an supplementary disclosure documents (SDDs). The regime requires operators to establish risk-based admission criteria, assess whether admission would be detrimental to retail investor interests, and maintain records for five years. QCDDs must contain material information enabling retail investors to make informed decisions. The FCA removed a proposed exception for fungible cryptoassets, requiring separate QCDDs for each admission. Supplementary disclosure documents must be published if material new information or inaccuracies arise before admission. Withdrawal rights apply where supplementary disclosure documents are published before trading commences. The MARC regime prohibits insider dealing, unlawful disclosure of inside information, and market manipulation. UK QCATP operators and cryptoasset intermediaries must establish effective systems and controls to prevent, detect and disrupt market abuse. Large UK QCATPs (those with average revenue of £10m or more annually over three years) face additional requirements including on-chain monitoring of linked wallet activity and cross-platform information sharing with other large operators. Creates a statutory compensation regime for QCDDs and SDDs in relation to losses suffered as a result of untrue or misleading statements or omissions of material information. The A&D rules will apply to: The admission to trading of qualifying cryptoassets on UK QCATPs that allow retail participation, defined as a ‘retail UK QCATP’. Public offers to retail investors made in reliance on the exceptions in paragraph 6 of Part 1 of Schedule 1 to the Cryptoassets Regulations. These exceptions allow offers that are conditional on an admission to trading or where the qualifying cryptoasset is, at the time of the offer, admitted to trading on a UK QCATP. Advertisements relating to the admission to trading of qualifying cryptoassets on UK QCATPs. The regime requires public disclosure of inside information as soon as possible, with limited delayed disclosure permitted where immediate disclosure would prejudice legitimate interests. The rules come into force on October 25, 2027.