UK outlines approval process for crypto firms
A formal application window will open in September 2026, allowing crypto firms time to secure approval before the regime starts.
The UK’s Financial Conduct Authority has confirmed that all regulated crypto firms must obtain authorisation under the Financial Services and Markets Act. Both new market entrants and existing operators will be required to comply.
No automatic transition will be available for firms currently registered under anti-money laundering rules. Companies already authorised for other financial services must apply to extend permissions to cover crypto activities and ensure compliance with upcoming regulations.
Pre-application meetings and information sessions will be offered to help firms understand regulatory expectations and enhance the quality of their applications.
An official application window is expected to open in September 2026 and remain active for at least 28 days. Applications submitted during that period are intended to be assessed before the regime formally begins, with further procedural details to be confirmed by the FCA.
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