UK FCA Publishes Final Crypto Rulebook, Halves Stablecoin Capital Floor to 1%

The UK's Financial Conduct Authority (FCA) has finalized a comprehensive crypto rulebook, bringing exchanges, wallets, custodians, staking services, and qualifying stablecoin issuers under a full authorization regime. A key change is the reduction of the capital requirement for non-systemic stablecoin issuers from a proposed 2% to 1% of the total value issued, following industry feedback. The regime is expected to take effect on October 25, 2027.