FCA Guidance Released Ahead of UK Crypto Authorization Window
The UK's Financial Conduct Authority (FCA) has released guidance for crypto firms ahead of the upcoming authorization window, which opens on September 30 and closes on February 28, 2027. The regime will take effect on October 25, 2027.
Crypto companies can apply for authorization between these dates to continue operating in the UK. However, missing the deadline will result in the loss of transitional cover, which allows firms to keep operating while their application is assessed.
The FCA's guidance covers various activities, including issuing qualifying stablecoins, running trading platforms, dealing and arranging deals, safeguarding cryptoassets, and arranging staking. It sets out which activities require FCA approval.
Overseas firms that deal with or arrange for UK retail customers are caught by the rules, with no overseas persons exclusion available. This means that foreign companies must obtain authorization to operate in the UK.