Glossarum · Insights
Nothing here is advice. Everything here is sourced. This is the working.
Analysis and explanation of the UK cryptoasset regime, written from the documents the regulator has actually published. Every claim links the public source it rests on, at the point it is made. Every piece ends with a register giving the title, the URL and the date we read it.
enquiries@glossarum.co.ukIn this section
Three pieces, so far.
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The window, and what sits behind the closing date.
The application period is expected to run from 30 September 2026 to 28 February 2027. The statutory instrument does one thing to a firm that applies inside it and something much narrower to a firm that applies late. Read alongside what the FCA says an application actually contains.
Sources: SI 2026/102 Part 7 · Four FCA pages · One FCA PDF
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The backing pool, in plain English.
What a UK stablecoin issuer must hold against its tokens, how the two five per cent tests combine without overlapping, why reconciliation happens twice a day, and who signs the annual review. Quoted from the FCA’s policy statement, chapter by chapter.
Sources: PS26/10 · The aggregate cost benefit analysis
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What the public register actually shows.
Sixty-two live registrations, reconciled exactly to the FCA’s published total. What the register contains, what it does not contain, and why a registration under the money laundering regulations is not an authorisation under FSMA.
Public data only · No firm assessed
How we cite
Every claim carries the source it rests on.
The scale is the same one that appears in the front of a Glossarum report, not in a footnote. A: read at primary source and quoted. B: a named professional analysis of the source rather than the source itself. C: our own internal work, not externally verified.
Everything in this section is written from primary sources. Where a document says something, we quote it and link it at that point. Where we are drawing a conclusion the regulator has not drawn, the sentence says so. Where a source will not resolve, or has no public address, the register says that instead of quietly leaving it out.
Pieces go through the same editorial pipeline as everything else we write. Facts are extracted and numbered before anyone drafts. Every claim in every draft is checked back against that list. Style editing happens only on audited prose, and the audit runs again afterwards.
What this is not
Analysis and explanation. Nothing else.
Glossarum is not an FCA-authorised firm. Nothing in this section is regulated advice, legal advice, an offer of a regulated service or a financial promotion, and nothing in it is a recommendation to do or not do anything. We do not submit applications, act as anyone’s agent, or attest anything on anyone’s behalf.
We explain published documents and we show where each sentence comes from. What any of it means for one firm is a question for that firm’s own advisers and its own board.