FCA Crypto Guide: Preparing a Strong Authorisation Application

The FCA’s new UK cryptoasset regime opens its application window on 30 September 2026 and closes on 28 February 2027, with regulated activities commencing on 25 October 2027. BCLP’s guide synthesises the seven core pillars of the regime—market integrity, client asset safeguarding, governance and individual accountability, prudential resilience, the Consumer Duty, financial crime controls, and financial promotions—and translates them into actionable advice for firms. It stresses that authorisation is not merely a paperwork exercise; firms must demonstrate how their business model, governance, financial resources, and controls will operate effectively in practice. The guide’s five steps—confirming the regulatory perimeter, testing operational readiness, building a coherent application, engaging deliberately with the FCA, and treating authorisation as a strategic decision—help counsel and clients align their compliance programmes with FSMA and MLR requirements. For sophisticated clients, the guidance reduces the risk of breaching the general prohibition and avoids delays that could disrupt planned market entry. Practitioners should watch for the February 2027 filing deadline, the October 2027 regime start date, and any further FCA policy updates that may refine the regulatory expectations.