PANews January 9 News, according to Cointelegraph, the UK financial regulatory authorities have set a timetable for the new cryptocurrency licensing regime, requiring relevant companies to apply for full authorization before the framework takes effect. The UK Financial Conduct Authority (FCA) stated on Thursday that starting this fall, crypto asset service providers (CASPs) can apply to enter the UK market, with the application period expected to open in September 2026; the timetable will be confirmed in due course. Before the implementation of the new regime on October 25, 2027, the FCA application channel will provide a limited window for application processing. According to the plan, companies providing regulated crypto asset services in the UK, including those currently registered under the Anti-Money Laundering Regulations and payment-related frameworks, must be authorized under the Financial Services and Markets Act (FSMA). Companies already authorized by the FCA to engage in other regulated activities need to change their existing permissions before the new regime is implemented; crypto companies relying on other authorized companies to approve financial promotion activities must obtain direct authorization from the FCA to promote products in the UK.
The FCA requires crypto asset service companies to apply within a fixed window (at least 28 days and no later than 28 days before the new regime starts), and it is expected that applications during this period will be decided before the new regime takes effect. The legislative draft includes “transitional provisions” allowing companies to continue operations during the assessment period. Companies that miss the application window or are not authorized when the new regime starts are subject to transitional rules, which allow them to continue operating existing products but restrict the launch of new products. Late applicants can still apply, but the FCA warns that assessment times may be longer.
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