FCA starts accepting crypto authorization applications ahead of 2027 regime

What happened

The FCA has started accepting crypto authorization applications. The window sets a deadline of February 28, 2027. UK firms will face fresh vetting under the new regime.

Confirmed

Global impact / market context

UK crypto firms must now apply for authorization and pass vetting before the deadline. This means they need approval to keep operating legally. Firms that fail or miss the deadline risk being unable to serve UK customers.

Confirmed

A fixed application deadline gives UK crypto firms roughly a set window to prepare paperwork, compliance staff, and controls. Meeting those requirements could raise operating costs and slow launches. Investors may see affected firms face higher expenses or exit the UK market.

Analyst inference

What to watch

1. Watch whether UK crypto firms publicly confirm they have submitted authorization applications before the February 28, 2027 deadline. Applications signal they intend to keep serving UK customers under the new regime. Confirmed
2. Watch whether the FCA publishes further rules or guidance explaining application requirements, fees, or timelines. Details like these would tell firms what evidence and controls they must prepare. Proposed
3. Watch whether some UK crypto firms choose to leave the market or stop serving UK customers. An exit would reduce competition and could shift crypto activity toward other jurisdictions. Analyst inference

Evidence

• theblock.co