FCA in the UK opens up authorization applications for cryptocurrency companies, with new regulatory framework set to take effect in October 2027

The Financial Conduct Authority (FCA) in the UK is now accepting applications for authorization from cryptocurrency companies. Crypto companies planning to operate in the UK are required to submit applications before February 28, 2027, and the new regulatory system will take effect on October 25, 2027. Enterprises need to prove that they meet the requirements in terms of consumer protection, customer asset custody, market integrity, and financial resilience. Enterprises that do not meet the standards cannot continue to provide regulated cryptocurrency services. Existing enterprises that submit applications during the application period may continue to provide services during the review period if they have not received approval before the new system takes effect.