TLDR
- The UK Financial Conduct Authority opened its crypto authorization gateway on September 30, 2026.
- Firms must apply by February 28, 2027, to use transition arrangements.
- The new crypto regime comes into force on October 25, 2027.
- Existing Money Laundering Regulations registration will not convert automatically.
- Firms without approval must wind down UK crypto operations before the regime begins.
The UK Financial Conduct Authority has opened its doors to crypto firms seeking approval under a new set of rules. The regulator announced the move on September 30, 2026.
Firms can now apply for authorization through the FCA’s Connect system. Businesses that already hold FCA permissions for other work can also apply to change those permissions.
For the first time, crypto firms in the UK will be brought under full FCA regulation. The rules cover consumer protection, the safeguarding of assets, market integrity, and financial resilience.
Dominic Cashman, the FCA’s director of authorization, said the new regime “will give consumers greater protections and firms a clear framework to operate in.” He added that firms can now apply and start preparing for regulation.
Key Dates for UK Crypto Firms
The application window runs from September 30, 2026, to February 28, 2027. The full regime comes into force on October 25, 2027.
The FCA expects to decide on applications sent during this window before the new rules begin. Firms that apply on time but are still waiting for a decision can, under certain conditions, keep offering services, including to new customers.
Late applicants will not get faster treatment. Firms that enter the transition period outside the main window will generally only be able to carry out regulated activities to meet existing contracts, without signing up new UK customers.
Firms that do not apply, or do not get approval, will need to wind down their UK crypto businesses before the regime starts. The FCA said approval is not automatic, and firms must show they meet its standards.
Existing Registrations Will Not Carry Over
Many crypto firms in the UK are currently registered under the Money Laundering Regulations, known as the MLRs. That registration will not turn into the new permission on its own.
These firms must apply separately for authorization under the Financial Services and Markets Act 2000. The MLR rules mainly focused on stopping money laundering, while the new framework covers a wider set of requirements.
The FCA published guidance on September 16 that lists which activities will need approval. These include safeguarding assets, running trading platforms, arranging deals, and some staking services.
The regulator’s past records show how its earlier process played out. Between January 2020 and September 1, 2026, the FCA received 417 crypto registration applications under the MLRs.
Of the 391 applications it decided on, 68 were approved. Another 263 were withdrawn, 46 were rejected, and 14 were refused.
A similar deadline already passed in the European Union under its MiCA rules. Only 16 of the world’s 100 largest exchanges had a license before the July 1 cutoff.
The FCA has been working with firms ahead of the launch. It received 115 requests for pre-application meetings between January 2024 and September 1, 2026, and held 82 of them through its free support service.
The regulator said it will keep helping firms prepare through pre-application talks and webinars. Firms that want to keep operating in the UK must apply by February 28, 2027.
