UK financial regulators have announced a schedule for a new crypto licensing system that will begin in September 2026.
The Financial Conduct Authority (FCA) will require crypto asset service providers to obtain full permission under the Financial Services and Markets Act before the new regime starts on October 25, 2027.
The FCA has stated that companies already registered under existing Money Laundering Regulations must still apply for formal approval under the updated rules; prior registrations will not automatically transfer.
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Firms currently using another authorized entity to handle their financial promotions will now need to seek direct FCA approval themselves to continue marketing in the UK.
The application window will last at least 28 days and close before the regime’s launch.
Applications submitted during this period should be reviewed before the system begins, and legislation includes a temporary measure allowing continued operations while assessments are underway.
Businesses that miss this window or lack approval when the new regime starts must operate within transitional limits. They may keep existing services, but cannot introduce new ones.
Late applicants may still apply afterward, though the FCA warns these firms could face longer processing times.
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