UK FCA signals September 2026 opening for crypto licensing gateway

The UK's Financial Conduct Authority (FCA) has announced plans to open a formal gateway in September 2026 for crypto asset firms to apply for authorization under a new regulatory regime set to take effect in October 2027. This process will require firms operating in or marketing to the UK to secure approval under the Financial Services and Markets Act, as existing anti-money laundering or payments registrations will not automatically transfer. Companies that apply during this window but are pending a decision can continue operating temporarily. However, those who miss the window or are refused authorization will be restricted to servicing existing customers only, eventually requiring an orderly exit from the UK market if approval is denied. The FCA confirmed that third-party approvers can no longer be relied upon, aligning with the government's broader plan to regulate crypto assets as financial products by 2027, focusing initially on areas like stablecoin payments.

(Source：The Block)