The UK crypto sector is moving into the implementation stage of regulation, according to the Financial Times. Nick Jones, founder and CEO of Zumo, said the Financial Conduct Authority will open the application window for crypto-asset authorizations on Sept. 30, with the new regulatory regime expected to take effect in October 2027. Jones said financial institutions have long been cautious about the UK crypto market because of regulatory uncertainty and counterparty risk, rather than a lack of interest in digital assets. As the regulatory path becomes clearer, traditional financial firms including Hargreaves Lansdown, the UK’s largest retail investment platform, have started entering the crypto market. The report said the industry is also set to move away from offshore operations, startup-style business processes and unregulated models, increasing the importance of compliant infrastructure and domestic service providers.
The UK crypto industry is entering the implementation phase of regulation, according to the Financial Times.
Nick Jones, founder and CEO of Zumo, said the Financial Conduct Authority, or FCA, will open the application window for crypto-asset authorizations on Sept. 30. The new regulatory regime is expected to take effect in October 2027.
Jones said financial institutions have long taken a cautious approach to the UK crypto market because of regulatory uncertainty and counterparty risk, not because they lacked interest in digital assets.
As the regulatory path becomes clearer, traditional financial institutions including Hargreaves Lansdown, the UK’s largest retail investment platform, have begun entering the crypto market. The report added that the industry is set to move away from offshore operations, startup-style business processes and unregulated models, which raises the importance of compliant infrastructure and domestic service providers.
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