FCA opens authorisation for crypto firms ahead of UK regime starting 25 October 2027

The UK Financial Conduct Authority began taking applications from crypto firms on 30 September 2026, the first step in bringing cryptoasset businesses that serve UK customers under full FCA regulation.

Firms that want to keep operating in the UK should apply by 28 February 2027. The new regime comes into force on 25 October 2027.

What firms must show

The FCA says authorisation is not automatic. Applicants will be assessed against its standards on consumer protection, safeguarding of customer assets, market integrity and financial resilience. Firms that fall short will not be authorised and will not be able to keep offering regulated cryptoasset services in the UK.

The rules and guidance firms are measured against were published by the FCA in June 2026. The regulator is offering pre-application support meetings and on-demand webinars to help firms prepare.

“Firms can now apply for authorisation and start preparing for regulation,” said Dominic Cashman, the FCA’s director of authorisation.

What changes for existing firms

The FCA expects to decide applications made during the application period before the regime starts. Existing firms that apply within the window can keep providing cryptoasset services, including taking on new business, while their application is still being assessed, if no decision has been made by the time the regime comes into force.

What it means for UK crypto traders

The FCA describes the regime as giving people who invest in crypto protections they have never had before. From 25 October 2027, a firm that has not been authorised will not be able to keep offering regulated cryptoasset services in the UK. Our guide on how to check a broker licence explains how to look up a firm’s status.

What happens next

The application window closes on 28 February 2027 for firms that want to be assessed before the regime starts on 25 October 2027.