The Financial Conduct Authority (FCA) has opened applications for authorisation from crypto-asset firms.
Under the new regime, crypto firms operating in the UK will come under full FCA regulation for the first time.
The regime sets standards for consumer protection, safeguarding, market integrity and financial resilience.
Firms that intend to continue operating in the UK must apply by 28 February 2027, with the regime set to come into force on 25 October 2027.
Dominic Cashman, director of authorisation at the FCA, said: “The UK’s new crypto regime will give consumers greater protections and firms a clear framework to operate in.
“Firms can now apply for authorisation and start preparing for regulation.”
Crucially, authorisation will not be automatic and firms must show that they meet the FCA’s requirements.
Firmsthat cannot meet these standards will not be authorised to operate in the UK.
The FCA’s gateway opens three months after the transition period for the EU’s Markets in Crypto-Assets (MiCA) regulation ended.
In July, the European Securities and Markets Authority (ESMA) warned crypto-asset service providers (CASPs) that had not been authorised by 1 July 2026 must exit the market in an orderly way and protect investor interests.
ESMA set out key requirements for unauthorised CASPs including: immediately stopping EU client onboarding and solicitation, limiting the provision of services to actions necessary to sell or transfer crypto-assets, reallocate assets or close positions, and communicate clearly with clients about plans to safeguard assets and wind down activities.
The FCA published its final crypto rules and guidance in June 2026 and the new regime is offering pre-application discussions and webinars to firms preparing to apply.