A crypto platform's register entry is not deposit insurance. As of 25 September 2026, firms can be subject to UK anti-money-laundering registration and crypto financial-promotion rules, while the expanded FSMA authorisation regime for specified cryptoasset activities is still ahead. The FCA says its final rules were published on 30 June 2026 and the new regime starts 25 October 2027. The application window for firms seeking transitional status opens 30 September 2026 and closes 28 February 2027. FCA timetable.
Check the permission, then the product
Maya holds £5,000 of crypto on a platform and £5,000 cash with a UK-authorised bank. She checks the exact legal entity on the FCA Register, whether it has AML registration, and any FSMA permissions relevant to the activity. Registration does not mean the FCA has approved the token or guaranteed her crypto balance. The FSCS guide excludes cryptoassets; eligible bank deposits have a separate £120,000 per-person, per-authorised-firm limit. Her two £5,000 balances therefore have different protection.
A 24-hour rule is about promotions
The FCA's crypto promotion regime began in October 2023. It includes a 24-hour cooling-off period for first-time investors receiving a direct-offer financial promotion, plus prescribed risk warnings and appropriateness checks. Those marketing rules did not themselves put every exchange or stablecoin issuer under the 2027 authorisation regime. Do not infer Financial Ombudsman access or FSCS cover for a cryptoasset from a marketing-compliant website. Compare the firm's legal permissions and the specific product before transferring money.
