The FCA has published advance information on its cryptoasset application form, and the September revision adds five items. The harder task is making the permissions, business plan, forecasts and custody model describe the same business.

The prudential rules set a minimum. The firm's own risk assessment may set a higher figure. The funding plan has to keep both in place from authorisation onwards. These are three separate questions, and a founder needs an answer to each.

CASS 6 already sets the baseline for holding tokenised securities. What is still to come is an additional framework specific to them. A platform can design and test its custody model now, without waiting for that framework.

FCA director Jon Relleen told a capital markets summit on 5 October that PISCES has four authorised operators and seven transactions, that the DIGIT digital gilt is due early next year, and that a joint tokenisation roadmap is coming in the next few weeks.

The answer depends on what the token is, what each business does with it, and whether an exclusion applies. The permission question may fall on the platform, on the company, or on both.

Ondo Finance launched Ondo Private Markets on 6 October 2026, tokenised notes that track private company share values at liquidity events but carry no ownership rights.

FS26/1 changes no rules. Its value to a founder or platform is that it shows which parts of a tokenisation plan can go ahead on today's rules, and which still depend on decisions to come.

Chris Woolard has spent most of his career deciding how UK financial markets get regulated. This month he published his first report on how they get rebuilt.

A growing gap is opening up between two very different things that both get called a tokenised stock, and 2026 is the year regulators started drawing the line publicly rather than leaving it to the small print.

Since 19 January 2026, UK private companies can raise £5m or more from a broad group of investors without a prospectus, through an FCA-authorised public offer platform. How the route works, what the platform must check, and the open question on tokenised shares.

UK crypto-as-a-service platform Zumo has partnered with regulatory and financial services firm Zeyro to give cryptoasset businesses a compliant route through the FCA's financial promotions regime, weeks before the regulator's cryptoasset authorisation gateway opens on 30 September.

The Financial Conduct Authority has opened a Call for Input on whether some tokenised gold products should sit outside the UK's fund rules altogether, as part of a wider push to keep London at the centre of global bullion trading.

The Financial Conduct Authority and the Bank of England have committed to a clear route from the Digital Securities Sandbox to permanent tokenised market infrastructure, after industry told the regulators that pilots are no longer enough.

Archax, the first FCA-regulated digital securities exchange, broker and custodian, has integrated with the Aptos blockchain to bring more than 100 regulated tokenised securities and real world assets onchain, starting with a reinsurance income fund.

The US Securities and Exchange Commission cancelled its 14 August open meeting, where it had been expected to propose Regulation Crypto Assets, its first formal crypto specific rulemaking, and to unveil a long anticipated innovation exemption for tokenised securities. The regulator cited an unforese

Two UK based tokenisation firms have just picked up Ripple as a shareholder rather than simply a partner, a sign of how much of the plumbing behind tokenised collateral markets is being built by British regulated firms rather than imported from elsewhere.

The group is backed by the City of London Corporation and will spend the next year working on live tokenisation use cases across UK financial markets, starting with tokenised repo. Woolard, who spent eight years as chair of the Financial Conduct Authority before taking on the Champion role in April, is addressing the report to whoever holds the Chancellor's job next, a reminder that this is being built to outlast any one minister. The headline numbers are designed to focus mi

For years, anyone building in tokenisation in the UK has had to plan around a moving target. The rules were coming, everyone agreed, but their shape was a matter of consultation papers and educated guesses. That ended on 30 June, when the Financial Conduct Authority published the final rules and gui

The FCA is consulting on which cryptoasset activities fall inside its new regime from October 2027. Founders of tokenisation businesses have until 3 June 2026 to respond.

On 15 May 2026, the FCA and Bank of England published something the market has been waiting for. Not a pilot. Not a sandbox update. A shared vision, and a roadmap.