The Financial Conduct Authority (FCA), the UK financial regulator, opened its authorization gateway for the country’s new crypto rules on Sept. 30. Existing Bitcoin providers that apply by Feb. 28, 2027, can qualify for temporary protection allowing relevant services, including new business, to continue if their applications remain undecided when the full regime begins on Oct. 25, 2027. The February date is the deadline for the saving provision, not an immediate shutdown date for Bitcoin services. The protection applies only to activities covered by an application, does not guarantee authorization and can include a refusal that remains under review. The statutory saving chapter expires two years after full commencement, and the FCA can require restricted run-off (an orderly wind-down of existing business) for criminal-enforcement, consumer-protection or regulatory-objective reasons. Firms can still apply after February, but late applicants awaiting a decision at commencement enter a transitional provision. They may conduct newly regulated activities only as needed to perform contracts agreed before transition and cannot enter new contracts with existing or new UK customers. Existing accounts do not preserve the ability to take new business. Run-off lasts no more than two years, and firms must notify the FCA and existing contract parties. Customer notices must disclose the lack of relevant authorization and any material changes to asset protection, dispute-resolution or compensation arrangements. Firms within scope that fail to apply before commencement must complete their UK run-off beforehand. Applications rejected for missing minimum information count as no application unless a valid replacement is submitted. Relevant activities include operating trading platforms, dealing and arranging transactions, and custody. Overseas firms serving UK consumers may also be covered, subject to specific intermediary and custody exceptions. Existing anti-money-laundering registration does not automatically become authorization, while firms authorized under the Financial Services and Markets Act for other activities must vary their permissions to conduct the new crypto activities.