FCA Sets Five-Month Window for UK Crypto Firms to Seek Approval
UK crypto firms have been given a five-month window to seek Financial Conduct Authority (FCA) approval before a new regulatory regime takes effect in October 2027. The application period runs from September 30, 2026, through February 28, 2027.
Firms with existing anti-money-laundering registrations will need separate FCA approval for regulated crypto activities. Those that apply within the designated timeframe may continue specified services while their applications are reviewed.
Zumo CEO Nick Jones sees clearer rules as a potential catalyst for more financial firms to expand their UK crypto offerings. He noted in a recent letter that uncertainty over regulation and risks posed by business partners had previously held back some institutions, despite their understanding of digital assets and desire to offer related products.