UK banks can now apply to do crypto business. The more interesting part is the calendar.
What happened: in its latest wholesale banking supervisory outlook, the FCA says wholesale banks can apply to vary their permissions to add regulated cryptoasset activities. The application window opened on 30 September 2026 and runs to 28 February 2027. The new regime starts on 25 October 2027. Approval is not automatic, and existing permissions don't convert on their own.
My view as someone who models economic processes: this is a queue with a hard deadline. Queues like that rarely fill evenly. Most applications arrive near the cutoff, and that is where review delays pile up. Early filers get the regulator's attention while it is still available.
For users, the real change is not "banks love crypto". It's that crypto services can sit inside regulated balance sheets, with capital and conduct rules attached.
Would you rather hold crypto with a bank or with an exchange?
#UKBanksCanNowApplyToConductCryptoAssetBusiness #CryptoRegulation $BTC
What happened: in its latest wholesale banking supervisory outlook, the FCA says wholesale banks can apply to vary their permissions to add regulated cryptoasset activities. The application window opened on 30 September 2026 and runs to 28 February 2027. The new regime starts on 25 October 2027. Approval is not automatic, and existing permissions don't convert on their own.
My view as someone who models economic processes: this is a queue with a hard deadline. Queues like that rarely fill evenly. Most applications arrive near the cutoff, and that is where review delays pile up. Early filers get the regulator's attention while it is still available.
For users, the real change is not "banks love crypto". It's that crypto services can sit inside regulated balance sheets, with capital and conduct rules attached.
Would you rather hold crypto with a bank or with an exchange?
#UKBanksCanNowApplyToConductCryptoAssetBusiness #CryptoRegulation $BTC