UK Opens Crypto Authorization Window Ahead of 2027 Regime

The Financial Conduct Authority (FCA) opened applications on Wednesday for crypto businesses that want authorization under a new UK regime starting Oct. 25, 2027. Firms planning to keep operating in the country should apply by Feb. 28, 2027. The regulator expects to decide applications sent in during this window before the rules take effect.

What the New UK Crypto Regime Covers

The framework goes beyond anti-money laundering and financial promotion rules. The FCA finalized its rules in June, covering stablecoin issuance, crypto trading platforms and market abuse. Dominic Cashman, the FCA’s director of authorization, said the regime will give consumers stronger protections and firms a clear framework to work within.

MLR Registration Will Not Convert to FCA Authorization

Emma Banymandhub, CEO of The Payments Association, welcomed the opening but urged firms already registered under money laundering regulations (MLRs) to treat this as a brand new process. She said MLR registration will not carry over and that firms should be realistic about the standards they must meet. She added that implementation will matter most for smaller and growing businesses.