FCA Launches Licensing Portal for Cryptocurrency in the UK

UK Financial Authorities Establish New Regime for Cryptocurrency Licensing

The Financial Conduct Authority (FCA) in the United Kingdom has announced the opening of a licensing portal for cryptocurrency companies, set to begin in the fall of 2026. Firms wishing to provide cryptocurrency services will be required to obtain operational authorization before the new regime takes effect, scheduled for October 25, 2027.

The FCA emphasized that all entities offering regulated services for cryptocurrencies in the UK must be authorized under the Financial Services and Markets Act. Moreover, companies already registered under existing anti-money laundering regulations will not receive automatic conversion and will need to secure FCA authorization before the implementation of the new regime.

Companies missing the application window may face restrictions on new offerings, and late applications can result in longer evaluation times. Transitional rules allow for the continued operation with existing products, but restrict the introduction of new offerings until authorization is granted.