UK Crypto Firms Gear Up for New Licensing Rules
The UK's Financial Conduct Authority (FCA) has set key dates for its cryptoasset licensing regime. Crypto service providers can apply for full authorization starting September 2026, with the new framework officially commencing on October 25, 2027.
This transition from the current registration model to a robust authorization process under the Financial Services and Markets Act (FSMA) aims to enhance market integrity and investor protection. Existing firms, including those registered for AML compliance and payment service providers involved in crypto, must obtain full authorization to continue operations. The FCA emphasizes that no exemptions will be granted, even for firms operating under "regulatory umbrellas." This move signals the UK's commitment to becoming a global hub for digital finance.