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FollowingThe UK Financial Conduct Authority (FCA) opens the crypto asset authorization channel: Clarify timetable and compliance requirements
On September 30, 2026, the UK Financial Conduct Authority (FCA) officially opened the crypto asset authorization application channel. According to the regulatory announcement, starting from October 25, 2027, any activity to conduct related business in the UK without a permit will be deemed illegal.
Key Time Points
The FCA pointed out in its announcement that companies can now submit authorization applications under the Cryptographic Assets Regulations 2026, which was established under the framework of the Financial Services and Markets Act 2000. All applications must be submitted before February 28, 2027. From October 25, 2027, any exchange, custodian or stablecoin issuer that provides services to UK customers without obtaining a license will be engaged in unauthorized financial business.
Dominica Cashman, Licensing Director of the FCA, said: "The UK's new crypto regulatory system will provide greater protection for consumers while providing companies with a clear operating framework. Companies can now apply for authorization and start preparing for regulation."
Apply from scratch
Companies that have already registered under the Anti-Money Laundering Regulations do not enjoy shortcuts. The scope of the new regulation goes far beyond anti-money laundering inspections, and every company must apply for a broader Financial Services and Markets Act license from scratch. The FCA will evaluate applicants in terms of consumer protection, customer asset security, market integrity and financial resilience. Approval will not be automatically approved.
The regulatory rules not only cover exchanges, but also extend to custodians whose customers hold crypto assets, stablecoin issuers, and companies that arrange pledge services. According to reports, depending on the type of business, the minimum capital requirement ranges from £ 75,000 to £ 750,000.
The FCA pointed out that companies that submit applications on time can continue to provide services to existing and new customers while regulators make decisions. For late applicants, they are only allowed to perform existing contractual obligations, and are not allowed to accept new customers, nor are they allowed to reach new agreements with existing customers. Any business that has never submitted an application must cease its business operations in the UK by October 25, 2027. The FCA only confirmed that it will process applications submitted on time before October 2027, and the specific ruling results will be notified separately.
