FCA Sets Crypto Authorization Window for Sept. 30 — SkimNews
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- FCA published crypto authorization guidance with executive director David Geale saying it gives firms the clarity to prepare with confidence; the regulator will open applications on Sept. 30.
- FCA set a Feb. 28, 2027 deadline for firms seeking transitional arrangements, with the new crypto regime taking effect Oct. 25, 2027; the regulator also plans to consult on further perimeter guidance changes later this year.
- Parliament approved regulations bringing cryptoassets within the FCA's regulatory remit in February, and the FCA finalized a package of rules and guidance in June.
- House of Lords voted 194-138 last week to amend the Financial Services and Markets Bill, requiring development of a digital asset strategy covering cryptoassets, stablecoins, tokenized securities and digital financial infrastructure within 12 months.
- FCA and Bank of England plan to publish a roadmap for tokenization in wholesale financial markets later this year; the FCA also sought feedback Monday on exempting certain tokenized gold products from UK fund rules.
Why it matters: UK crypto firms now have a hard regulatory timeline — a Sept. 30 application window and a Feb. 28, 2027 transitional deadline before the Oct. 25, 2027 regime takes full effect. The House of Lords' 194-138 amendment signals Parliament wants the Treasury to build a broader digital asset strategy covering stablecoins and tokenized securities, expanding the FCA's scope beyond spot crypto authorization.
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