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UK FCA begins accepting applications for authorized crypto firms
The FCA said the new regime will include consumer protection requirements and is set to take effect in October 2027.
The UK’s Financial Conduct Authority has begun accepting applications from crypto companies seeking authorization under a new, fully regulated framework, according to Bitcoin Magazine.
The FCA said it finalized its regulatory framework for cryptoassets in June, and the new regime is due to take effect in October 2027.
In a statement, Dominic Cashman, director of authorisation at the FCA, said the new crypto regime is intended to give consumers greater protections and provide firms with a clear framework to operate in.
The FCA added that firms will need to demonstrate they meet requirements covering consumer protection, customer assets, and other regulatory expectations as part of the authorization process.
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