The UK Financial Conduct Authority (FCA) has opened authorization applications for cryptoasset firms under a new regulatory framework effective October 25, 2027. Firms intending to continue operating in the UK must submit applications by February 28, 2027, to transition into the full regulatory regime covering consumer protection, client asset custody, market integrity, and financial resilience. The FCA emphasized that application submission does not guarantee approval. Firms failing to meet the new standards will be prohibited from providing regulated cryptoasset services in the UK once the regime takes effect, marking the first time crypto firms will operate under comprehensive FCA regulation.