The meaning behind the market notice.
Regulation timeline
Explore 17 official milestones across six regulatory tracks. Every card remains readable without JavaScript; filters only change what is shown.
17 milestones shown
Completed · framework
Scope: A harmonized EU framework for covered crypto-assets, issuers and crypto-asset service providers, with later application dates.
User impact: The common authorization structure existed, but most duties had not yet begun to apply.
Official EUR-Lex summaryCompleted · legislation
Scope: Supplied powers to bring certain cryptoasset and stablecoin activities into the UK regulatory perimeter.
User impact: Built the legal route for future rules; it did not authorize every crypto firm on that date.
Official explanatory notesCompleted · framework
Scope: Licensing and rulebooks for virtual-asset activities in Dubai, outside the DIFC.
User impact: Status became entity- and activity-specific; one permission does not cover every service.
Official VARA regulationsCompleted · marketing
Scope: Qualifying promotions made to UK consumers, including by overseas firms.
User impact: Risk warnings, promotion routes, cooling-off and appropriateness controls became visible.
Official FCA guidanceCompleted · licensing
Scope: Centralized virtual asset trading platforms operating in or actively marketing to Hong Kong.
User impact: Platform status could be checked against SFC licensing and transition lists.
Official SFC circularCompleted · product
Scope: Specific exchange rule changes for shares of spot bitcoin exchange-traded products.
User impact: Eligible brokerage accounts gained a securities-based exposure route; bitcoin itself was not endorsed.
Official SEC statementCompleted · perimeter
Scope: Added defined transmission, arrangement and custodial activities to the payment-services perimeter.
User impact: More intermediaries required a licence or valid transitional exemption for the activity.
Official Singapore regulationsCompleted · stablecoins
Scope: Asset-referenced token and e-money token issuer requirements.
User impact: Availability, disclosures and redemption arrangements could change by token and issuer status.
Official EUR-Lex summaryCompleted · transition
Scope: Pre-existing platforms reached the end of the initial transition window.
User impact: A deemed applicant still was not the same as a fully licensed platform.
Official SFC statementCompleted · safeguarding
Scope: Customer-asset trust, controls, records, statements and disclosure requirements.
User impact: Safeguarding duties strengthened, but did not become bank-deposit insurance.
Official Singapore regulationsCompleted · licensing
Scope: Crypto-asset service providers and other covered crypto-asset issuance and trading rules.
User impact: Legal-entity authorization, services and transition status became the key checks.
Official Commission overviewCompleted · resilience
Scope: ICT risk, incident reporting, resilience testing and third-party oversight for in-scope financial entities.
User impact: Authorized providers faced common operational-resilience duties; outages were not guaranteed away.
Official Commission overviewCompleted · rules published
Scope: Updated activity rulebooks covering market integrity, risk controls and regulated services.
User impact: Providers received a transition period to update terms, controls and products.
Official VARA noticeCompleted · compliance
Scope: Affected VARA-licensed providers and activity rulebooks.
User impact: Revised controls became the operative baseline for affected services.
Official VARA noticeCompleted · legislation
Scope: A federal framework for defined payment stablecoins and permitted issuers.
User impact: Issuer, reserve, redemption and supervisory status became central checks; implementation work continued.
Official public lawCompleted · stablecoins
Scope: In-scope fiat-referenced stablecoin issuance supervised by the HKMA.
User impact: Issuer licensing remained separate from SFC platform licensing.
Official HKMA conclusionsScheduled · future
Scope: Firms conducting activities brought into the future UK cryptoasset authorization regime.
User impact: This date has not arrived. Final permissions and transition details must be checked live.
Official FCA guidanceNo milestone matches all three filters.