The Financial Conduct Authority completed its new crypto rulebook on June 30, requiring firms to seek full authorization for activities starting in 2027.
The regulator published final guidance that forces exchanges, custodians and stablecoin issuers to apply for permission under the Financial Services and Markets Act 2000.
Existing anti-money-laundering registrations will not convert automatically. Firms must decide whether to pursue authorization or limit UK operations.
The formal application window opens on September 30, 2026, and closes on February 28, 2027. Pre-application meetings with the FCA can begin in July 2026.
Firms approved before the October 25, 2027, start date gain full market access. Late applicants face transitional limits that restrict new contracts.
