FCA Opens Crypto Authorisation Gateway Ahead of 2027 Deadline

The Financial Conduct Authority (FCA) opened its crypto authorisation gateway on September 30, allowing firms to apply for operation under the new regime effective October 25, 2027. Businesses wishing to remain in the UK market must submit applications by February 28, 2027. Applicants must demonstrate compliance with requirements related to safeguarding, market integrity, consumer protection, and financial resilience. Existing anti-money-laundering registrations do not replace the need for approval under the new framework. The impact of these regulations may be felt before the official start date, as platforms need to manage capital, staffing, systems, and customer service. International firms must also assess which UK activities fall under the new permissions. It is important for investors to note that a licence application does not equate to completed authorisation, and approvals from other jurisdictions do not guarantee compliance with FCA standards. Key upcoming milestones include timely applications, sought permissions, and the ability of firms' operating models to meet regulatory scrutiny.

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