UK FCA begins accepting crypto authorization applications

The UK Financial Conduct Authority has begun accepting authorization applications from crypto firms operating in the UK as the country moves toward a new regulatory regime for crypto assets, according to a press release issued on Sept. 30. The UK’s new crypto regime has been built through legislation, FCA rulemaking and two years of preparation. Parliament formally expanded the watchdog’s regulatory perimeter in February 2026 to cover activities including stablecoin issuance, custody, trading platforms, dealing and arranging, and staking. The FCA spent 2025 and early 2026 consulting on the rules before publishing its final framework in June. It then issued further guidance on which firms and activities require authorization and released application materials ahead of the gateway opening. The framework will introduce requirements covering consumer protection, customer asset safeguarding, market integrity and financial resilience. Firms that want to continue operating in the UK will need to apply by Feb. 28, 2027, with the new regime scheduled to take effect on Oct. 25, 2027. Existing firms that submit applications during the transition period can continue providing crypto asset serv...