UK crypto firms get five-month window to seek FCA approval

UK crypto firms have been given a five-month application window, from Sep. 30 to Feb. 28, to seek Financial Conduct Authority approval before a new regulatory regime is expected to take effect in October 2027. Summary The FCA will accept applications from Sep. 30, 2026, through Feb. 28, 2027. Firms with existing anti-money-laundering registrations will need separate approval for regulated crypto activities. Eligible firms that apply within the window may continue specified services while the FCA reviews their applications. Zumo CEO Nick Jones says clearer rules could encourage financial firms to expand their UK crypto offerings. The Financial Times published a letter from Zumo founder and CEO Nick Jones, who said the application window gives firms a route into a UK market that some financial institutions had previously considered “too difficult.” In his view, uncertainty over regulation and the risks posed by business partners had held institutions back, even where they understood digital assets and wanted to offer related products. The FCA’s published timetable puts an exact date on the next step: applications open on Sep. 30, 2026, close on Feb. 28, 2027, and the new regime is ex...