UK Crypto Firms Must Register with FCA by 2027
The UK's Financial Conduct Authority (FCA) has opened applications for crypto firms to seek authorization under new regulatory rules. The deadline for submission is February 28, 2027, and the new regime will take effect on October 25, 2027.
The FCA's new framework sets standards for consumer protection, customer asset safeguarding, market integrity, and financial resilience. It expands the regulator's oversight beyond its existing anti-money laundering and financial promotion rules.
Firms must demonstrate that they meet the regulator's requirements to be authorized, and submitting an application does not guarantee approval. The FCA expects to decide applications submitted during the application period before the October 2027 start date.
The FCA offers support to businesses preparing for regulation, including pre-application discussions and recorded webinars explaining its rules and the authorization process.