FCA opens crypto authorization window ahead of 2027 UK regime
Crypto businesses should apply by Feb. 28, 2027, while existing money laundering registrations will not convert into FCA authorization.
The Financial Conduct Authority (FCA) in the United Kingdom has opened the application window for crypto businesses seeking authorization under a new regulatory regime set to commence on October 25, 2027. Companies intending to continue operations in the UK must apply by February 28, 2027. The FCA anticipates making decisions on these applications before the regime kicks in.
The framework broadens the FCA's jurisdiction, encompassing not only anti-money laundering and financial promotion requirements but also stablecoin issuance, crypto trading platforms, and market abuse. Dominic Cashman, the FCA's director of authorization, highlighted that the new crypto regime would provide consumers with enhanced protections and a clear operating framework for businesses.
However, Emma Banymandhub, CEO of The Payments Association, cautioned that existing money laundering registrations would not automatically convert into FCA authorization. She stressed that firms should approach the upcoming standards realistically, especially smaller and growing businesses, given the importance of implementation.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
