UK FCA Opens Crypto Authorisation Gateway
The UK's Financial Conduct Authority opened its cryptoasset authorisation gateway on September 30. Firms intending to continue operating should apply by February 28, 2027, ahead of the new regime's October 25, 2027 commencement. Authorisation is not automatic, and existing registrations and permissions will not convert automatically. The opening is an application milestone, not the start of the full regulatory regime.
PARADIGM INSIGHTS:
Firms should distinguish permission to apply from permission to operate under the new regime. Contracts and compliance plans should account for application timing, transition arrangements and the possibility of refusal. Cross-border operations also need a clear account of which entity holds each permission and which rules govern each service.
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