First Comprehensive Regulation: UK FCA Opens Crypto Firm Authorization Applications

Odaily reports that the UK Financial Conduct Authority has announced it is now accepting authorization applications from crypto asset firms under the new regulatory regime. Firms planning to continue operating in the UK should submit their applications by February 28, 2027; the new regime will take effect on October 25, 2027, when crypto firms operating in the UK will for the first time come under full FCA regulation, with relevant standards covering consumer protection, custody of client assets, market integrity, and financial resilience.

The UK Financial Conduct Authority stated that submitting an application does not guarantee automatic approval, and firms that fail to meet the standards will not be permitted to continue providing regulated crypto asset services in the UK.