UK Crypto Firms Get Five-Month Window for FCA Approval

UK crypto firms have been given five months to seek approval from the Financial Conduct Authority (FCA) before Britain's wider cryptoasset regime begins. The FCA will start accepting applications on September 30, 2026, and close them on February 28, 2027. The new regulation is set to take effect on October 25, 2027.

Existing anti-money-laundering registration will not automatically become authorisation, so affected firms must submit new applications or amend their existing FCA permissions. Timely applicants may continue specified activities while the FCA assesses their applications, but late applicants may need to pause regulated services until approval arrives.

The deadline coincides with wider crypto access, including retail crypto ETNs and proposed fund limits. Offshore platforms must decide whether to seek UK authorisation for covered activities, such as Binance, which has been linked to plans for an FCA licence application.