UK FCA to Begin Accepting Cryptocurrency Business Authorization Applications in September 2026

The UK Financial Conduct Authority (FCA) announced on January 8th that it plans to begin accepting formal authorization applications from cryptocurrency asset businesses in September 2026. The new regulatory framework is scheduled to be implemented in October 2027. In its statement, the FCA explained that cryptocurrency businesses operating in the UK or selling to UK customers must obtain approval or modify existing permissions under the Financial Services and Markets Act. The application period will be set at a minimum of 28 days and will close at least 28 days before the new system begins. Existing registrations under anti-money laundering regulations, payment regulations, and electronic money regulations will not be automatically carried over. Businesses will need to reapply before the new system...