UK Financial Conduct Authority Opens Crypto Authorization Applications

The Financial Conduct Authority opened applications on September 30, 2026, for cryptocurrency businesses seeking authorization under a new regulatory framework. The regime becomes effective on October 25, 2027, and requires companies wishing to operate within the United Kingdom to submit their applications by February 28, 2027.

This expanded oversight moves beyond anti-money laundering and financial promotion to include market abuse, crypto trading platforms, and stablecoin issuance. The regulator clarified that existing money laundering registrations will not automatically convert into authorization, meaning firms must undergo a fresh application process to meet the updated standards.

Dominic Cashman, the FCA Director of Authorization, stated that the new regime will provide consumers with greater protections and offer firms a clear framework for operations. Emma Banymandhub, CEO of The Payments Association, cautioned firms to be realistic about the required standards, noting that previous registrations will not carry over.