Crypto firms can now apply for FCA authorisation

From today, crypto firms can apply for authorisation from the UK Financial Conduct Authority (FCA), marking a landmark moment as the UK takes a step closer towards becoming one of the most trusted places in the world to build and invest in cryptoasset businesses.

For the first time, crypto firms operating in the UK will be brought into full FCA regulation, with clear standards covering consumer protection, safeguarding, market integrity and financial resilience.

Firms that intend to continue operating in the UK should apply by 28 February 2027, ahead of the new regime coming into force on 25 October 2027.

Authorisation is not automatic. Firms will need to clearly demonstrate that they meet the FCA’s requirements, and those that cannot show the necessary standards will not be authorised to operate in the UK market. This reflects the government and FCA’s determination that the UK’s crypto sector should be defined by integrity and trust, along with growth and innovation.

Dominic Cashman, director of authorisation at the FCA said:

‘The UK’s new crypto regime will give consumers greater protections and firms a clear framework to operate in. Firms can now apply for authorisation and start preparing for regulation.’

The FCA expects to determine applications submitted during the application period before the new regime comes into force.

Existing firms that apply during the application period can continue providing cryptoasset services, including taking on new business, while their application is being assessed if a decision has not been made before the new regime comes into force.