The UK Financial Conduct Authority said that from today crypto firms can apply for authorisation, opening the gateway to a new regulated regime for cryptoasset businesses operating in the UK.
What changed
The FCA said that for the first time crypto firms operating in the UK will be brought into full FCA regulation, with clear standards covering consumer protection, safeguarding, market integrity and financial resilience.
The regulator described the move as a landmark moment, saying it takes the UK a step closer towards becoming one of the most trusted places in the world to build and invest in cryptoasset businesses. It said the framework gives the sector clarity and legitimacy, and signals that the UK is serious about giving crypto investors protections they have never had before.
The deadlines
Firms that intend to continue operating in the UK should apply by 28 February 2027, ahead of the new regime coming into force on 25 October 2027, according to the FCA.
The FCA said it expects to determine applications submitted during the application period before the new regime comes into force. Existing firms that apply during the application period can continue providing cryptoasset services, including taking on new business, while their application is assessed if a decision has not been made by the time the regime starts.
In its notes to editors, the regulator said it published its final crypto rules and guidance in June 2026.
Authorisation is not automatic
The FCA stressed that authorisation is not automatic and that firms will need to clearly demonstrate they meet its requirements. Those that cannot show the necessary standards will not be authorised to operate in the UK market.
Firms are assessed against the FCA's standards on consumer protection, safeguarding of customer assets, market integrity and financial resilience, the regulator said. Firms that do not meet these standards will not be able to continue offering regulated cryptoasset services in the UK.
The FCA said this reflects the government and FCA's determination that the UK's crypto sector should be defined by integrity and trust, along with growth and innovation.
What the regulator says
Dominic Cashman, director of authorisation at the FCA, said: 'The UK's new crypto regime will give consumers greater protections and firms a clear framework to operate in. Firms can now apply for authorisation and start preparing for regulation.'
The FCA said it is supporting firms to prepare for authorisation, including through pre-application discussions and webinars. Firms can request a pre-application support meeting before applying, and webinars hosted by the regulator to help firms understand its rules are available on demand.
What to do
- If your firm intends to keep operating in the UK, apply for FCA authorisation by 28 February 2027, ahead of the regime coming into force on 25 October 2027.
- Prepare evidence that your firm meets the FCA's standards on consumer protection, safeguarding of customer assets, market integrity and financial resilience.
- Request a pre-application support meeting with the FCA before submitting an application.
- Watch the FCA's on-demand webinars explaining its crypto rules and the authorisation process.
Key facts and where they come from
- Crypto firms can apply to the FCA for authorisation from today.
From today, crypto firms can apply for authorisation from the FCA
- Applications should be submitted by 28 February 2027, before the regime starts on 25 October 2027.
Firms that intend to continue operating in the UK should apply by 28 February 2027, ahead of the new regime coming into force on 25 October 2027.
- Firms will be assessed on consumer protection, safeguarding, market integrity and financial resilience.
Firms are assessed against the FCA's standards on consumer protection, safeguarding of customer assets, market integrity and financial resilience.
- Authorisation is not guaranteed and firms failing standards will not be allowed to operate.
Authorisation is not automatic. Firms will need to clearly demonstrate that they meet the FCA's requirements
- Existing applicants can keep serving customers while their application is assessed.
Existing firms that apply during the application period can continue providing cryptoasset services, including taking on new business, while their application is being assessed
- The FCA published final crypto rules and guidance in June 2026.
In June 2026, the FCA published its final crypto rules and guidance.