TL;DR: The FCA opened its crypto authorisation gateway on September 30 and asks firms planning to continue operating to apply by February 28, 2027.
For crypto businesses serving UK customers, next October’s rulebook begins to matter this autumn. The Financial Conduct Authority opened its authorisation gateway on September 30, starting the period in which firms can apply to operate under the broader regime due to take effect on October 25, 2027.
The FCA says businesses intending to remain in the UK market should apply by February 28, 2027. Applicants will have to demonstrate compliance with requirements covering issues such as safeguarding, market integrity, consumer protection and financial resilience. Existing registration under anti-money-laundering rules is not a substitute for approval under the incoming framework.
The commercial consequences could arrive before the rules formally start. Platforms must plan capital, staff, systems and applications while continuing to service customers. International groups also need to decide which UK-facing activities fall inside the new permissions regime.
For investors, a licence application should not be mistaken for a completed authorisation, and an approval elsewhere in the world does not automatically satisfy the FCA. The next milestones are procedural but important: which firms apply on time, what permissions they seek and whether their operating models are capable of passing the regulator’s review.
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