The Financial Conduct Authority will accept applications for authorization to conduct regulated crypto activities in the UK from September 30, 2026, through February 28, 2027, before the full cryptoasset regime takes effect on October 25, 2027. Existing anti-money-laundering registrations will not automatically convert into authorization, requiring covered firms to submit new applications or vary existing FCA permissions. Firms that apply by the deadline and meet all relevant conditions may continue specified services while their applications are assessed, but filing does not guarantee approval before the new rules begin. The framework covers venues, intermediaries, custodians, stablecoin issuers, lending services, certain staking providers, some FCA-authorized companies and certain financial promotions approvers. Requirements include prudential management, governance, conduct, client-asset safeguarding, operational resilience, stablecoin backing and redemption arrangements, disclosures and market-abuse controls. Hargreaves Lansdown’s offering of nine Bitcoin and Ether crypto ETNs, possible fund exposure limits, reported interest from Binance and the SEC’s separate U.S. proposal are distinct from the FCA authorization process.