UK crypto companies have been granted a five-month period to apply for approval from the Financial Conduct Authority (FCA) from September 30 to February 28. The new regulatory regime is expected to begin in October 2027. The FCA will start accepting applications on September 30, 2026, and will close on February 28, 2027. Companies with existing registration for anti-money laundering will need to obtain separate approval for regulated crypto operations. Meanwhile, companies that apply during this period will be able to continue certain activities while the FCA reviews their applications.
Zumo CEO Nick Jones noted that clear rules could encourage financial companies to expand their cryptocurrency offerings in the UK. He emphasized that the application period opens up opportunities for companies in the UK market, which some financial institutions previously considered too challenging. The conditions of the new regime require companies to have FCA permission to conduct regulated crypto operations, such as trading platforms and stablecoin issuers. Unlike current rules, existing registration will not serve as permission under the new regime.
Applying within the five-month window also affects a company's ability to continue operations during the application assessment. The FCA clarified that companies that submit applications on time may continue their operations under certain conditions, while those who apply after February 28, 2027, will not be able to rely on these conditions and may be forced to halt their activities until approval is obtained. The rules also establish requirements for company finances, governance, and conduct, as well as specific standards for certain types of activities.
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