UK Crypto Firms Face Licensing Deadline or Exit

The UK's Financial Conduct Authority (FCA) is tightening its grip on cryptocurrency firms. As of September 30, 2026, crypto companies can apply for authorization under the Cryptoassets Regulations 2026. The deadline to file applications is February 28, 2027.

From October 25, 2027, any exchange, custodian, or stablecoin issuer serving UK customers without a license will be carrying out unauthorized financial business, making it illegal. Firms that apply on time can continue to serve existing and new customers while the FCA decides, but late applicants may only honor existing contracts.

The new regime requires firms to meet stricter requirements than anti-money laundering checks, including consumer protection, safekeeping of customer assets, market integrity, and financial resilience. Approval is not automatic, and the FCA will rule on applications before October 2027.