UK Crypto Regime: FCA Opens Authorization Gateway Ahead of 2027 Deadline
The UK's Financial Conduct Authority (FCA) has opened its authorization gateway for cryptoasset firms, marking the beginning of the application process for businesses that will fall within the country's new regulated crypto framework. This move comes ahead of the new regime, which is set to come into force on October 25, 2027.
Firms can now apply for authorization or seek variations to existing permissions through the FCA's Connect system. The regulator expects to determine applications submitted during the official period before the new regime begins. However, firms applying within the window but still awaiting a decision when the regime takes effect can continue providing cryptoasset services, including new business, under the saving provision.
The FCA has been engaging with firms ahead of the gateway, receiving 115 requests for pre-application meetings between January 2024 and September 1, 2026. The regulator also conducted 82 through its free Pre-Application Support Service.