The FCA's Crypto Clock Is Running, and Old Registrations Won't Stop It
The United Kingdom has spent years building a regulatory perimeter around cryptoassets. Now firms have to walk through the door.
The Financial Conduct Authority has opened its authorization process for crypto firms ahead of a new regime that will bring a much wider range of digital asset activities under its supervision. The dates are fixed. Firms that want to keep operating in the UK must apply by February 28, 2027, and the new rules take effect on October 25, 2027, the regulator said in a statement.
On paper, that looks like a generous runway. The calendar tells a stricter story.
What the Regime Reaches
The framework was published in June of this year. It covers firms that facilitate crypto trading and transactions, along with staking and the custody of digital assets. Beyond the question of who needs permission, it introduces substantive rules on cryptoasset admissions and disclosures, market abuse,...
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