FCA Cryptoasset Authorisation: One Month To Go
In one month, the UK's new cryptoasset regulatory regime will move into a critical stage.
From 30 September 2026, the application window opens for cryptoasset firms currently operating in the UK to apply for authorisation.
Firms intending to continue carrying on regulated cryptoasset activities in the UK should be preparing now. The application window runs until 28 February 2027, with the new regime expected to come fully into force on 25 October 2027.
What does this mean for cryptoasset firms?
The new regime represents a significant expansion of regulation for the UK cryptoasset sector.
The FCA has now published its final Policy Statements and guidance setting out the requirements that cryptoasset firms will need to meet under the new regime. The requirements will vary depending on the activities and business model of each firm.
For many businesses, becoming authorised will therefore require more than simply completing an FCA application. Firms will need to demonstrate that they have appropriate governance, systems, controls, financial resources and compliance arrangements in place.
The FCA will expect firms to be able to clearly explain how their business operates, how risks are identified and managed, how customers and client assets are protected, and how the firm will comply with its ongoing regulatory obligations.
Why start now?
The FCA authorisation process can be detailed and time-consuming. Firms may need to review and develop their regulatory framework, governance arrangements, policies, procedures and systems before they are ready to submit their application.
Starting early allows firms to identify areas requiring attention and put the necessary arrangements in place ahead of submission.
How can ComplyCraft help?
Navigating the new cryptoasset regime can be challenging, particularly for firms that are approaching FCA authorisation for the first time.
ComplyCraft Consulting can support cryptoasset businesses with FCA authorisation and ongoing regulatory compliance.
We can help your business understand the requirements that apply to your activities, assess your current compliance framework, identify gaps, and prepare and submit the FCA authorisation application. Once your authorisation has been approved, we can also continue with ongoing compliance support.
Contact ComplyCraft Consulting today to discuss your FCA cryptoasset authorisation requirements and find out how we can support your business.