UK Regulates Crypto Under Financial Authority
Changing its regulatory approach, the UK is placing cryptoassets under the Financial Conduct Authority’s (FCA) traditional Financial Services and Markets Act (FSMA) framework. This requires crypto firms to transition from the current light-touch Anti-Money Laundering (AML) registration to full-scale financial regulation.
Starting 30 September 2026, the UK’s FCA is officially opening its regulatory application window, giving crypto firms a clear rulebook to follow. Companies must submit their applications by 28 February 2027, to keep operating smoothly before the mandatory regulations fully lock in on 25 October 2027.
Trust in the Crypto Space
Mobile-first neobank bunq’s 2026 Crypto Trust Index found that 82% of British adults are actively trying to grow their wealth and only 29% have never invested in crypto. Joe Wilson, Chief Evangelist for bunq, notes that despite many Britons seeking a regulated environment to invest and exchange cryptocurrency, this is not where they go to do so, with 73% of crypto users buying through a centralized exchange.
Joe Wilson says that it is clear who people trust to help them take the next step: 43% picked their bank, more than those choosing exchanges and trading platforms combined. A further one in five said all they want is a regulated, familiar environment to do it in. Joe Wilson adds that trust is everything, even in crypto.
Limited understanding holds back 65% of those who have never invested, and 37% of men have invested in crypto compared to just 21% of women.
The Gap in Investments
Joe Wilson believes that what keeps people out of the crypto space is practical, not ideological, pointing to a lack of understanding and a gender divide as two main reasons holding Britons back from the crypto space. Among Britons who have never invested, 65% say limited understanding is the main thing holding them back, and 37% say clear guidance would help them start.
The gender split is even more stark, with 21% of women having invested compared with 37% of men. 35% of women say they would not know where to begin against 18% of men, and nearly a quarter of women describe crypto as masculine. Joe Wilson adds that the reasons banks might have for keeping their distance from crypto are weakening, as authorized crypto firms will fall under the Consumer Duty, the same standard that governs how a bank sells anyone a savings account.
bunq believes that neither crypto-native platforms nor traditional banks are well equipped to welcome newcomers into the crypto space. Joe Wilson says, “Traditional banks carry layers of legacy systems and processes that make it hard to turn enthusiasm into a simple, well-designed first experience.”
They thrive in the gap in the middle, according to Joe Wilson. Neobanks are licensed and regulated, so the trust is real, yet built without decades of legacy tech, allowing them to move at the pace people expect from an app that makes their lives easy. bunq’s approach to crypto follows the same logic that has defined the bank from the start: listen to users first, then build.
When bunq launched crypto, it was a direct response to what users were asking for. They wanted a way to grow their money in an environment they already trusted, without having to open a separate account on an exchange they had never heard of. Joe Wilson notes that Britain’s front door to crypto belongs to whomever can be trusted without being complicated to use.
bunq has partnered with Kraken, a globally leading cryptocurrency exchange, to power the trading and custody infrastructure for bunq Crypto. This partnership enables bunq users to securely buy, sell, and hold various digital assets directly within the banking app. bunq has also partnered with NVIDIA to accelerate its automated transaction-monitoring system using advanced AI.
Through NVIDIA’s computing infrastructure, bunq has significantly enhanced its AI-driven fraud detection capabilities. Additionally, bunq collaborates with Mastercard to leverage advanced open banking and AI technologies, empowering bunq’s 12.5 million European users to gain an overview of their finances that is complete and easy to understand.
