UK FCA Opens Authorization Applications for Crypto Firms Ahead of 2027 Regulatory Regime

The UK Financial Conduct Authority (FCA) began accepting authorization applications from crypto asset businesses on September 30, ahead of the new regulatory regime set to take effect on October 25, 2027. Existing firms must apply by February 28, 2027, to continue operating under transitional arrangements while their applications are processed. The new framework, governed by the Financial Services and Markets Act (FSMA), will establish standards for consumer protection, asset custody, and market integrity. Firms that fail to meet these requirements will be prohibited from providing regulated crypto services in the UK.