UK Crypto Businesses Face New Regulatory Deadline Under FCA's Expanded Oversight

The UK's Financial Conduct Authority (FCA) has opened applications for crypto businesses seeking authorization under a new regulatory regime set to take effect on October 25, 2027. Companies must apply by February 28, 2027, for their applications to be considered before the regime kicks in.

The FCA's expanded oversight will cover more than just anti-money laundering and financial promotion requirements, including stablecoin issuance, crypto trading platforms, and market abuse.

Crypto businesses already registered under money laundering regulations (MLRs) are not exempt from re-registering under the new regime. Emma Banymandhub, CEO of The Payments Association, emphasized that MLR registration will not automatically qualify businesses for FCA authorization.