The United Kingdom’s Financial Conduct Authority (FCA) opened applications on Wednesday for crypto businesses seeking authorization under a new regulatory regime scheduled to take effect on Oct. 25, 2027.
Companies that intend to continue operating in the UK are advised to submit their applications by Feb. 28, 2027. The FCA stated that it expects to make decisions on applications submitted during this window before the new regime officially begins.
The upcoming framework broadens the FCA’s regulatory scope beyond existing anti-money laundering and financial promotion rules. The regulator finalized these rules in June, establishing requirements that cover stablecoin issuance, crypto trading platforms, and market abuse.
“The UK’s new crypto regime will give consumers greater protections and firms a clear framework to operate in,” said Dominic Cashman, the FCA’s director of authorization.
Emma Banymandhub, CEO of payments industry trade body The Payments Association, welcomed the opening of the application window. However, she urged businesses currently registered under money laundering regulations (MLRs) to view the application as an entirely new authorization process.
“MLR registration will not carry over, and firms should be realistic about the standards they will need to meet,” Banymandhub noted, adding that proper implementation will be especially critical for smaller and growing enterprises.
