FCA opens crypto authorization: applications due by February 28, 2027

The UK's FCA has opened its authorization process for crypto firms ahead of a new regime taking effect on October 25, 2027. Existing Money Laundering Regulations registration will not convert automatically — firms must apply afresh and prove consumer protection, asset safeguarding and financial resilience.

• Applications close February 28, 2027; new rules take effect October 25, 2027
• Regime covers crypto trading, staking and custody of digital assets
• AML registration does not automatically convert into authorization
• Firms applying in the window can keep operating, including taking new business