FCA Opens UK Crypto Licensing Gateway Under New Regime

The UK's Financial Conduct Authority (FCA) announced that the application period for its new crypto licensing regime will open in September 2026, with the full framework expected to go live around October 25, 2027. This gateway offers a limited window for Crypto Asset Service Providers (CASPs) to apply for full authorization under the Financial Services and Markets Act (FSMA). Crucially, existing firms registered under Money Laundering Regulations (MLRs) will not have their registrations automatically converted and must secure FSMA authorization before the new regime commences. Companies already authorized under FSMA for other activities must vary their permissions. Furthermore, firms relying on third parties for financial promotion approval must obtain direct FCA authorization to market products in the UK. The FCA mandates applications within a specific window, closing 28 days before the start date, with draft legislation allowing continued operation during assessment. Missing this window subjects firms to transitional rules restricting new offerings, though late applications will still be accepted with potentially longer assessment times.

(Source：Cointelegraph)