UK Crypto Firms Can Apply for Regulation Ahead of 2027 Deadline
The UK's Financial Conduct Authority (FCA) has opened its new authorization process for crypto firms, allowing them to apply for regulation ahead of the October 2027 deadline.
Existing firms have until February 28, 2027, to submit their applications and can continue serving customers while their applications are assessed.
The FCA emphasized that current Money Laundering Regulations registration will not automatically carry over, meaning existing firms must qualify under the new authorization process.
The new regime will bring crypto businesses under standards covering consumer protection, safeguarding customer assets, market integrity, and financial resilience. Firms that fail to demonstrate they can meet these requirements will not receive permission to provide regulated cryptoasset services in the country.