FCA Crypto Rules Set October 2027 Deadline for Non-Compliant Platforms
The UK's financial regulator, the FCA, is set to introduce stricter rules for cryptocurrency firms operating in the country. Coinbase UK's chief executive, Keith Grose, believes this will drive out non-compliant platforms and increase trust among consumers.
Roughly 8% of UK adults, approximately 4.5 million people, already hold cryptocurrencies, according to the FCA. The regulator has published a framework for crypto regulation that requires platforms to obtain a full financial licence by October 25, 2027, or face restrictions on their activities.
Coinbase is well-positioned to navigate these new regulations, having received authorisation to offer traditional financial instruments such as equities and commodities. This will allow the company to compete directly with established providers like AJ Bell and IG.