UK FCA opens applications for crypto firm authorization under new regime

The UK Financial Conduct Authority said it began accepting authorization applications today from crypto asset businesses under a new regulatory framework. Firms seeking to continue operating in the UK must submit applications by Feb. 28, 2027, and the new regime will take effect on Oct. 25, 2027. Once the framework takes effect, crypto asset businesses operating in the UK will, for the first time, come under the FCA’s comprehensive regulation. The standards cover consumer protection, safeguarding customer assets, market integrity and financial soundness. The FCA stressed that submitting an application does not guarantee approval automatically. Firms that fail to meet the regulatory standards will not be able to continue providing regulated crypto asset services in the UK.