Cryptoasset businesses looking to operate under the Financial Conduct Authority’s (FCA) new regulatory regime will need to ensure they have robust controls in place, particularly in areas such as anti-money laundering (AML) and customer due diligence, an expert has said.

The FCA has opened applications for firms seeking authorisation under the UK’s new cryptoasset regime, which will bring crypto businesses into full FCA regulation for the first time. Firms intending to continue operating in the UK should apply by 28 February 2027, ahead of the new framework coming into force on 25 October 2027.

According to new figures obtained by Pinsent Masons, the proportion of cryptoasset firms securing FCA registration has increased…