FCA in the United Kingdom began to accept applications for authorization of encryption enterprises, and the deadline is February 28, 2027.
On September 30, the Financial Conduct Authority (FCA) began to accept applications for authorization of encryption enterprises. Relevant companies wishing to continue operating in the UK must submit applications by February 28, 2027, and the new regulatory system will officially take effect on October 25, 2027.
The new system incorporates more businesses such as transaction matching, crypto asset trading, pledge and digital asset custody into FCA supervision, and introduces requirements such as access and information disclosure of crypto assets, market manipulation prevention, prudent supervision and consumer protection. FCA said that the applicant must prove that it meets the standards of consumer protection, customer asset protection, market integrity and financial resilience, and the submission of the application does not guarantee approval.
Crypto enterprises that have been registered under the British Anti-Money Laundering Ordinance also need to reapply, and their existing registration qualifications will not be automatically converted to FCA authorization. Enterprises that meet the relevant transition conditions and submit materials during the application window period can continue to provide designated encrypted asset services during the review period, including undertaking new business.
On September 30, the Financial Conduct Authority (FCA) began to accept applications for authorization of encryption enterprises. Relevant companies wishing to continue operating in the UK must submit applications by February 28, 2027, and the new regulatory system will officially take effect on October 25, 2027.
The new system incorporates more businesses such as transaction matching, crypto asset trading, pledge and digital asset custody into FCA supervision, and introduces requirements such as access and information disclosure of crypto assets, market manipulation prevention, prudent supervision and consumer protection. FCA said that the applicant must prove that it meets the standards of consumer protection, customer asset protection, market integrity and financial resilience, and the submission of the application does not guarantee approval.
Crypto enterprises that have been registered under the British Anti-Money Laundering Ordinance also need to reapply, and their existing registration qualifications will not be automatically converted to FCA authorization. Enterprises that meet the relevant transition conditions and submit materials during the application window period can continue to provide designated encrypted asset services during the review period, including undertaking new business.