The UK Financial Conduct Authority has started accepting authorization applications from crypto asset firms under a new regulatory framework. Firms that intend to keep operating in the UK must submit their applications by Feb. 28, 2027, while the new regime is scheduled to take effect on Oct. 25, 2027. Once implemented, crypto businesses operating in the UK will, for the first time, fall under the FCA’s full supervisory scope. The standards cited by the regulator cover consumer protection, safeguarding of client assets, market integrity, and financial resilience. The FCA also made clear that filing an application does not guarantee approval. Firms that fail to meet the required standards will not be allowed to continue providing regulated crypto asset services in the UK.
The UK Financial Conduct Authority (FCA) said it is now accepting authorization applications from crypto asset firms under a new regulatory regime.
Firms that plan to continue operating in the UK must submit their applications by Feb. 28, 2027. The new regime will take effect on Oct. 25, 2027.
Scope of the new framework
According to the announcement, crypto firms operating in the UK will be brought under the FCA’s full regulatory oversight for the first time once the regime comes into force. The standards cover consumer protection, custody of client assets, market integrity, and financial resilience.
No automatic approval
The FCA said that submitting an application does not mean it will be approved automatically. Firms that do not meet the standards will not be allowed to continue offering regulated crypto asset services in the UK.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
