UK regulator FCA opens licence applications for crypto firms

Firms must apply by February 28, 2027, the new regime takes effect on October 25, 2027. For the first time, the UK crypto market comes under full FCA supervision: client protection, asset custody, market integrity and financial resilience. Authorisation is not automatic: firms that do not prove compliance will not be able to provide regulated crypto services in the UK. Existing firms that apply within the window may keep operating and take on new clients while the application is under review, even if there is no decision by the start of the regime.

For crypto firms serving clients in the UK: apply to the FCA by February 28, 2027, and if desired first request a pre-application support meeting.

Facts

The FCA said: from today, crypto firms can apply for authorisation, for the first time they come under full FCA regulation.
The FCA: firms that want to keep operating in the UK must apply by February 28, 2027, the regime takes effect on October 25, 2027.
The FCA: existing firms that apply within the window may continue services and take on new business while the application is under review, if there is no decision by the start of the regime.
The FCA assesses firms on consumer protection, safeguarding of client assets, market integrity and financial resilience; firms that fail the assessment will not be authorised. [fca.org.uk, September 29, 2026]
According to CoinDesk, the licences cover stablecoin issuance, trading, custody services and staking. [@CoinDesk, September 30, 2026]

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