Fca Sets September 2026 Start For Uk Crypto Licensing Applications

UK crypto businesses must secure FCA authorization well before the crypto regime starts in October 2027 or face transitional restrictions on new services.

Financial authorities in the United Kingdom set a timeline for a new crypto licensing regime, requiring aspiring companies to seek full authorization before the framework comes into force.

Crypto asset service providers (CASPs) will be able to apply to enter the UK under the crypto licensing regime starting this fall, the Financial Conduct Authority (FCA) said Thursday.

“We expect the application period will open in September 2026,” the FCA noted, adding that the timeline will be confirmed in due course.

The FCA’s gateway will offer a limited window for applications to be processed before the regime goes live, expected on Oct. 25, 2027.

Under the plan, all companies providing regulated crypto asset services in the UK will need to be authorized under the Financial Services and Markets Act (FSMA).

The authorization requirement includes crypto entities currently registered under existing Money Laundering Regulations (MLRs) and payment-related frameworks, the FCA noted, adding:

Companies that are already FCA-authorized under FSMA for providing other regulated activities will need to “have varied their existing permissions before the commencement of the new regime.”

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The regulator also said crypto firms that currently rely on another authorized company to approve their financial promotions will need to obtain direct FCA authorization to market products in the UK.

Source: CoinTelegraph