The UK's FCA will open the application channel for crypto company licenses in September 2026.

PANews reported on January 9th, citing Cointelegraph, that the UK financial regulator has set a timetable for a new cryptocurrency licensing regime, requiring companies to apply for full authorization before the framework takes effect. The Financial Conduct Authority (FCA) stated on Thursday that crypto asset service providers (CASPs) can apply to enter the UK market starting this autumn, with the application period expected to open in September 2026, and the timetable to be confirmed in due course. Before the new regime takes effect on October 25, 2027, the FCA application channel will provide a limited window for processing applications. Under the plan, companies providing regulated crypto asset services in the UK, including those currently registered under the Anti-Money Laundering Ordinance and payment-related frameworks, will need to be authorized under the Financial Services and Markets Act (FSMA). Companies already authorized by the FCA to engage in other regulated activities must change their existing authorizations before the new regime takes effect; crypto companies relying on other authorized companies for financial promotion activities will need direct authorization from the FCA to promote their products in the UK.

The FCA requires crypto asset servicing companies to apply within a fixed window (at least 28 days and no later than 28 days before the new regime takes effect), with applications expected to be adjudicated before the new regime comes into effect. The draft legislation includes "transitional provisions" allowing companies to apply for continued operation during the assessment period. Companies that miss the application window or are not authorized when the new regime takes effect will be subject to transitional rules, allowing them to continue operating existing products but with restrictions on launching new products. Late applicants can still apply, but the FCA warns that assessment times may be longer.