Key Takeaways
The UK's Financial Conduct Authority has opened authorization applications for crypto firms as it brings the sector under full regulation.
According to Bitcoin Magazine, the United Kingdom's Financial Conduct Authority (FCA) has started accepting authorization applications from crypto companies, bringing the sector under full regulation for the first time. The Wednesday announcement allows firms to apply and prepare ahead of a new regulatory regime taking effect in October 2027.
Dominic Cashman, director of authorisation at the FCA, stated that the framework aims to provide consumer protection and a clear operational framework. Applying firms must demonstrate compliance with requirements regarding consumer protection, customer-asset safeguarding, market integrity, and financial resilience. The upcoming regime follows the UK drafting a sweeping new crypto bill and previously recognizing bitcoin and other digital assets as property following a 2023 Law Commission recommendation.
Despite this rollout, Bitcoin Magazine noted that the UK currently trails behind Brussels and Washington in digital asset regulation. The European Union's Markets in Crypto-Assets regulation has applied to service providers since December 2024, and the U.S. signed the GENIUS Act into law in July 2025, while U.S. regulators like the Securities and Exchange Commission continue rulemaking.
Source & Fact-Check Note
https://bitcoinmagazine.com/news/uk-brings-crypto-under-fca-oversight
