UK crypto regulation enters implementation phase as market shifts from 'offshore era' to compliance competition

BlockBeats news, September 12: According to a Financial Times report, the UK crypto industry is entering the regulatory implementation phase. Zumo founder and CEO Nick Jones said that the UK Financial Conduct Authority (FCA) will open the crypto asset authorization application window on September 30, and the new regulatory regime is expected to be officially implemented in October 2027.

He pointed out that for a long time, regulatory uncertainty and counterparty risk have made financial institutions cautious about the UK crypto market, rather than a lack of interest in digital assets. As the regulatory path becomes clear, traditional financial institutions such as Hargreaves Lansdown, the UK's largest retail investment platform, are beginning to enter the crypto market, and the industry will gradually move away from offshore operations, startup-style business processes, and unregulated models, with the importance of compliant infrastructure and local service providers set to rise further.