UK crypto firms have five-month window to apply for FCA approval

The Financial Conduct Authority (FCA) will open a five‑month application period for crypto‑related firms on 30 September 2026, closing on 28 February 2027. Applications submitted within this window may allow firms to continue specified activities while the regulator reviews their submissions.

Key dates and process

• Application window: 30 Sep 2026 – 28 Feb 2027
• New regulatory regime start date: 25 Oct 2027
• Pre‑application support service launched: July 2026

Scope of the new regime

The upcoming framework expands FCA oversight beyond anti‑money‑laundering registration and financial promotions to include a broader range of crypto activities. Firms that currently hold AML registrations or other FCA authorisations must apply for separate permission if their crypto services fall under the new rules.

Activities covered

• Trading platforms
• Custodians
• Stablecoin issuers
• Providers of certain staking services

Transitional provisions

Firms that submit a timely application may continue designated services under transitional provisions, provided they meet the FCA’s conditions. Applications received after 28 Feb 2027 will not benefit from these provisions and may need to suspend the relevant activities until approval is granted.

Industry reaction

Zumo CEO Nick Jones said the clear application window could encourage traditional financial firms to expand crypto offerings in the UK, citing recent launches of Bitcoin and Ether exchange‑traded notes (ETNs) by Hargreaves Lansdown as an example of growing market participation.

Implications for offshore providers

Overseas platforms serving UK customers, such as Binance, face a separate decision on whether to seek FCA authorisation for covered services. The FCA’s pre‑application support aims to help such firms assess compliance requirements.