UK FCA Launches Mandatory Licensing Regime for Crypto Firms

The UK Financial Conduct Authority (FCA) has opened its application window for a new mandatory licensing regime for crypto exchanges, custody providers, and stablecoin issuers. Firms must submit authorization filings by February 28, 2027, to continue operations after the full enforcement date of October 25, 2027. Existing anti-money laundering registrations will not transition to the new license, and applicants will be evaluated on consumer protection, asset security, and financial resilience.