FCA Gives UK Crypto Firms Five-Month Window to Seek Approval

UK crypto firms have been given a five-month window to apply for Financial Conduct Authority (FCA) approval before a new regulatory regime takes effect in October 2027. The application period, which runs from September 30, 2026, to February 28, 2027, is designed to help firms prepare for the changes.

According to Nick Jones, founder and CEO of Zumo, the application window provides a route into the UK market that some financial institutions had previously considered 'too difficult'. He cited uncertainty over regulation and the risks posed by business partners as key factors holding them back.

The FCA's published timetable outlines the next steps: applications will open on September 30, 2026, close on February 28, 2027, and the new regime is expected to begin on October 25, 2027. Existing firms must apply for new permissions if they carry out regulated crypto activities.

The incoming rules will bring more activities into the FCA's financial-services rulebook, including trading platforms, custodians, stablecoin issuers, and staking services. Firms that apply on time may continue specified activities under transitional provisions if they meet certain conditions.