UK Regulator Launches Crypto Firm Registration Process

The Financial Conduct Authority (FCA) has launched the registration process for crypto firms in the UK, marking a significant step towards a regulated market.

Crypto companies can now apply for authorization from the FCA, which will bring them under full oversight by the regulator and require adherence to investor protection requirements, including standards for safeguarding assets, maintaining market integrity, and ensuring financial resilience.

The new regime is set to take effect in October 2027, with firms expected to apply for authorization by February 28, 2027. The FCA emphasized that 'authorization is not automatic' and that companies will need to demonstrate their ability to meet the UK's new standards before being granted permission to operate.

The regulator stated that the new framework aims to give the crypto sector greater clarity and legitimacy while enhancing investor protection. The FCA also noted that it expects to rule on firms' registration applications before the new regime comes into force, allowing companies to continue providing services while their applications are being assessed.