UK FCA begins accepting authorization applications from crypto firms, with a deadline of February 28, 2027.

BlockBeats news, September 30: The UK Financial Conduct Authority (FCA) has begun accepting authorization applications from crypto firms. Companies wishing to continue operating in the UK must submit applications by February 28, 2027, with the new regulatory regime officially taking effect on October 25, 2027.

The new regime brings more activities under FCA oversight, including trade matching, cryptoasset trading, staking, and digital asset custody, while introducing requirements for cryptoasset admissions and disclosures, market manipulation prevention, prudential regulation, and consumer protection. The FCA stated that applicant firms must demonstrate compliance with standards on consumer protection, safeguarding of client assets, market integrity, and financial resilience, and that submitting an application does not guarantee approval.

Crypto firms already registered under the UK's Money Laundering Regulations must also reapply, as their existing registration status will not automatically convert into FCA authorization. Firms that meet the relevant transitional conditions and submit materials within the application window may continue providing specified cryptoasset services, including taking on new business, during the review period.