UK Crypto Firms Have Five Months for FCA Approval

UK crypto firms have five months to seek Financial Conduct Authority approval. The window runs from September 30, 2026, to February 28, 2027. The new regulatory regime is expected to take effect in October 2027. Firms must apply to continue regulated activities under the new framework. The FCA opened a pre-application support service in July to assist with preparation.

Existing anti-money-laundering registrations do not grant permission under the new rules. Firms must apply for specific authorisation or change their permissions. This applies to trading platforms, custodians, and stablecoin issuers. Timely applicants may continue specified services during the review process. Late filers cannot rely on transitional provisions to keep operating.

Regulatory Requirements Expand

The FCA final policy statements cover stablecoin issuance and crypto custody. They also address disclosures and market abuse controls. The rules apply to specific activities rather than granting a blanket permission. Firms must meet financial, governance, and conduct standards. The regulator has not guaranteed a decision on every timely filing before the regime starts.

Institutional Access Expands

Zumo CEO Nick Jones says clearer rules encourage financial firms to expand. He notes that uncertainty previously held institutions back. Hargreaves Lansdown began offering Bitcoin and Ether exchange-traded notes on September 3. These products give investors price exposure without direct coin ownership. Access is limited to clients using the Advanced Investing service.

Clients must self-certify as advanced investors to access these notes. They must pass a risk test and complete a 24-hour cooling-off period. This structure allows traditional platforms to enter the market. The five-month application window provides a clear path for compliance. The FCA timetable sets exact dates for the next steps.