UK Crypto Companies Face February Deadline for Regulatory Applications
Crypto companies operating in the UK have a five-month window to submit applications to the Financial Conduct Authority (FCA) for authorization. The FCA's 'authorization gateway' opened on Wednesday, giving firms until the end of February 2027 to register.
The move is part of the UK's efforts to formalize regulation of cryptocurrency and digital asset companies. The regime has been in development since 2022, with the EU's Markets in Crypto Asset (MiCA) Regulation coming into force in June 2023.
Zumo, a crypto infrastructure platform that received registration under the FCA's existing anti-money laundering regime in 2021, is helping firms navigate the new rules. The company has developed a 'U.K Cryptoasset Regulation Tracker' to map timelines for regulatory milestones and identify individual obligations.