UK FCA officially opens licensing applications for cryptocurrency companies

According to an official announcement from the UK's Financial Conduct Authority (FCA), the FCA will officially open cryptocurrency company authorization applications starting today, marking a new stage in the regulation of crypto assets in the UK. This regulatory framework covers four core standards: consumer protection, customer asset safeguarding, market integrity, and financial soundness. Crypto companies intending to continue operating in the UK must submit their applications by February 28, 2027, and the new regulatory regime will officially take effect on October 25, 2027. Dominic Cashman, Director of Authorization at the FCA, stated that the UK's new crypto regulatory framework will provide stronger consumer protection and offer businesses a clear operational framework. The FCA is also providing pre-application support meetings and a series of webinars to assist companies in preparing their applications.