UK Crypto Firms Get Five-Month Window for FCA Approval

UK crypto firms have five months to seek approval from the Financial Conduct Authority (FCA) before Britain's new cryptoasset regime begins in October 2027. The FCA opens applications on September 30, 2026, and closes them on February 28, 2027.

The deadline coincides with wider crypto access, including retail crypto ETNs, proposed fund limits, and potential applications from offshore exchanges. Timely applicants may continue specified activities during assessment, while late applicants could need to pause regulated services until approval arrives.

Currently, anti-money-laundering registration will not become authorisation, leaving covered firms to file new applications or amend existing FCA permissions. The framework covers regulated cryptoasset activities carried on in the UK, including trading venues, intermediaries, custodians, stablecoin issuers, lending services, and certain staking providers.

The policy package changes the regulator's role in the sector, transferring a broader range of activities into the financial-services rulebook. Firms must match applications to activities and business models they plan to operate.