Regulatory outlook for digital assets in 2026

An overview of expected regulatory developments for digital assets and crypto-asset service providers in the UK and EU, and implications for financial institutions.

The regulatory landscape for digital assets and crypto-asset service providers continues to evolve in the UK and EU. This note summarises key developments expected in 2026 and their implications for firms that issue, hold, or facilitate trading in crypto-assets.

Firms should monitor policy statements, draft legislation, and regulatory guidance, and ensure that their governance, systems, and documentation are aligned with current and anticipated requirements.

UK developments

In the UK, the Financial Conduct Authority (FCA) has expanded its regime for crypto-asset activities. The marketing regime for crypto-assets is in force, and the FCA has indicated that it will continue to focus on anti-money laundering (AML) compliance and consumer protection.

Further legislation may bring additional activities within the regulatory perimeter. Firms that are in scope or may be in scope should maintain close engagement with legal and compliance advisers and with the FCA where appropriate.

EU MiCA and beyond

In the EU, the Markets in Crypto-Assets Regulation (MiCA) is being phased in. Key provisions apply to issuers of asset-referenced tokens and e-money tokens, and to crypto-asset service providers (CASPs). Requirements cover authorisation, capital, governance, disclosure, and conduct of business.

National competent authorities are implementing MiCA and publishing guidance. Firms with an EU presence or serving EU clients should ensure that they are compliant with the applicable MiCA and national rules, and should plan for any further EU initiatives in 2026.

Implications for financial institutions

Banks and other financial institutions that provide custody, clearing, or other services in relation to crypto-assets may be subject to overlapping regimes. They should map their activities to the applicable regulatory requirements and maintain a clear view of how the UK and EU frameworks apply.

For further information on the regulatory treatment of digital assets and on compliance programmes, please contact our regulatory and compliance team.