Original sourcePipsWire NewsdeskAdditional: Pulse of Nations
Summary
The UK FCA has opened its authorization application gateway for crypto firms, preparing for the new regime launching in 2027. Firms can submit applications now, with a deadline of February 28, 2027; the full supervisory regime takes effect on October 25, 2027, covering consumer protection, client a…
Key points
- Gives firms planning to enter the UK market a grasp of application timelines, fees, and specific conditions of transitional protection.
- The new UK regime brings crypto services into the existing financial authorization framework; those without authorization cannot provide regulated services in the UK.
- Firms need to file by February 28, 2027 to obtain transitional protection, and assess the £11,260 application fee plus subsequent annual costs.
- Existing firms registered under anti-money laundering rules do not automatically convert to authorized status and must still apply through the gateway.
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