The UK FCA will open the application channel for cryptocurrency company licenses in September 2026

According to Cointelegraph, the UK's financial regulatory body has set a timeline for a new cryptocurrency licensing regime, requiring relevant businesses to apply for full authorization before the framework takes effect.

The Financial Conduct Authority (FCA) stated on Thursday that starting this autumn, Crypto Asset Service Providers (CASPs) can apply to enter the UK market under this framework, with the application period expected to open in September 2026, and the timeline will be confirmed in due course; before the new regime is implemented on October 25, 2027, the FCA's application channel will provide a limited window for processing applications.

As planned, companies providing regulated crypto asset services in the UK, including those currently registered under the Anti-Money Laundering Regulations and payment-related frameworks, will need to obtain authorization under the Financial Services and Markets Act (FSMA). Companies already authorized by the FCA to conduct other regulated activities will need to change their existing permissions before the new regime takes effect; crypto companies relying on other authorized firms to approve financial promotions will need to obtain direct authorization from the FCA to promote products in the UK.

The FCA requires crypto asset service companies to apply during a fixed window (at least 28 days and ending no later than 28 days before the new regime starts), with decisions expected to be made during this period before the new regime comes into effect. The legislative draft includes "transitional provisions" allowing companies to continue operating during the assessment period. Companies that miss the application window or are not authorized when the new regime starts will be subject to transitional rules, allowing them to continue operating existing products but restricting the launch of new products. Late applicants can still apply, but the FCA warns that the assessment time may be longer.