Labels won’t save digital asset firms from FCA authorisation
What's happening
From today the FCA is accepting applications for authorisation under the UK's new crypto regime, which will fully kick in on 25 October 2027 and allows firms that apply by 28 February 2027 to continue operating during the transition. The regime covers issuing stablecoins, running trading venues, dealing and arranging in crypto, custody and staking. The FCA has published final guidance on which cryptoasset activities fall within the perimeter, making clear firms carrying out regulated cryptoasset activities in the UK will need FCA authorisation unless exempt. Yet banks continue to cap, delay or block payments to exchanges, and UK Parliament members and the Crypto and Digital Assets APPG are pressing bank CEOs for answers over debanking of licensed digital asset firms.
Why it's trending
Because the FCA gateway opened today while banking access and practical on-ramps for licensed firms remain unresolved, making authorisation necessary but not sufficient.
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Getting an FCA crypto licence won't fix your banking problems, and applying is not the same as being operational in the UK economy today.
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Original sources5
- FCA Begins Vetting Crypto Companies for UK Market Access
The United Kingdom’s Financial Conduct Authority has begun accepting applications from crypto firms that want to be brought into full FCA regulation when the country’s new crypto framework comes into effect next year, the regulator said in a Wednesday (Sept. 30) press release. Cryptocurrency firms that intend to continue operating in the U.K. should apply […] The post FCA Begins Vetting Cryp
PYMNTSSep 30 - FCA opens the gateway to regulated crypto
From today, crypto firms can apply for authorisation from the FCA, marking a landmark moment as the UK takes a step closer towards becoming one of the most trusted places in the world to build and invest in cryptoasset businesses.
FinextraSep 30 - The UK crypto licence gateway opens today, but banks still block transfers to exchanges. What's the point?
The FCA opens applications for its new crypto regime today. Firms that apply by 28 February 2027 can keep operating during the transition, and the regime fully starts on 25 October 2027. It covers issuing stablecoins, running trading venues, dealing and arranging deals in crypto, custody and staking. But several big UK banks still cap, delay or block payments to crypto exchanges, and the FCA says
r/fintechSep 30
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