FCA opens UK crypto authorisation gateway

The UK’s Financial Conduct Authority (FCA) has opened applications for cryptoasset firms seeking authorisation under its new regime.

The move brings crypto firms operating in the country under full FCA regulation for the first time, with requirements covering four areas: consumer protection, safeguarding of customer assets, market integrity, and financial resilience.

According to the regulator, the framework is intended to give crypto investors protections they have not previously had, while providing the sector with the clarity and legitimacy that come with a formal regulatory regime. The FCA presents the opening of the application gateway as a step towards establishing the UK as a trusted jurisdiction in which to build and invest in cryptoasset businesses.

Application window and key dates

Firms that intend to keep operating in the UK are expected to apply by 28 February 2027. The new regime comes into force on 25 October 2027, leaving a period of almost eight months between the application deadline and the start of the regime.

Transitional arrangements apply to existing firms that submit applications within the window but have not received a decision by October 2027. These firms can continue providing cryptoasset services, including taking on new business, while their applications remain under assessment.