UK Crypto Exchanges Face Deadline for Full Licence
The UK Financial Conduct Authority (FCA) has announced new rules for cryptocurrency exchanges operating in Britain. Starting from October 25, 2027, any exchange that fails to win a full licence will have to stop offering regulated crypto services.
The FCA has only required most crypto firms to register for anti-money laundering checks until now. The new licence puts them under standards closer to those facing banks and brokers.
Firms operating in Britain must submit authorization filings by February 28, 2027, ahead of full enforcement on October 25, 2027. Those failing to meet strict capital adequacy requirements will be refused a license.
The rules cover firms that hold coins for customers, stablecoin issuers, and companies that arrange staking. Each applicant will be judged on consumer protection, how it keeps customer assets safe, market integrity, and financial resilience.