FCA Opens UK Crypto Authorization Window for 2027 Regime
Firms can keep serving customers while applications are reviewed, but approval depends on meeting standards for safeguarding, financial resources and conduct.
- The Financial Conduct Authority opened its "authorization gateway" on Wednesday, allowing cryptocurrency firms to submit applications by February 28, 2027, for the incoming regulatory regime.
- Developing for years, the UK's new framework officially takes effect on October 25, 2027, transitioning digital asset businesses away from reliance on previous Money Laundering Regulations .
- Applicants must provide business plans, financial forecasts, and governance procedures, with specific requirements depending on their operations. Firms can use the Pre-Application Support Service to discuss business models before filing.
- Eligible businesses that apply during the window can continue operations while the FCA assesses their filings. Companies waiting until after February 28, 2027, will not receive the same treatment if applications remain pending.
- Industry operators like Zumo, led by CEO Nick Jones, are preparing for the new rules. Jones noted the firm built a "U.K Cryptoasset Regulation Tracker" to help other businesses map their obligations.
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Can UK crypto firms continue operating while awaiting FCA authorization?
UK crypto firms have gained access to the Financial Conduct Authority’s new authorization process as the country begins moving digital asset businesses toward full financial services regulation. The Financial Conduct Authority said on Sept. 30 that firms can now submit…
UK Brings Crypto Under Full FCA Oversight For The First Time
The UK’s Financial Conduct Authority has opened applications for crypto firms to become authorized, bringing the sector under full regulation for the first time. In a Wednesday announcement, the watchdog said companies can apply so that the crypto industry has “clarity and legitimacy.” The UK is in the process of drafting a sweeping new crypto bill. The FCA finalized its regulatory framework for cryptoassets in June, and the regime is due to tak…
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