In brief
- Crypto firms can apply for UK authorization from September 30 to February 28, 2027, ahead of the regime taking effect on October 25, 2027.
- Overseas firms dealing, arranging or safeguarding for UK retail customers are caught, with no overseas persons exclusion available.
- Missing the February deadline costs firms the transitional cover that lets them keep operating while their application is assessed.
Britain’s Financial Conduct Authority has told crypto firms how its incoming rulebook applies to them, publishing perimeter guidance on Wednesday, two weeks before applications for authorization open.
The guidance covers issuing qualifying stablecoins, running trading platforms, dealing and arranging deals, safeguarding cryptoassets…
