UK finalises its crypto trading platform regime

The UK approved the final version of its crypto trading platform regime. Mandatory authorisation begins in October 2027.

The regime sets out authorisation conditions, conduct standards and reporting obligations for platforms serving UK users, regardless of where those platforms are established.

Read alongside MiCA's 244 authorised firms and the European Union's parallel sanctions activity, the major Western jurisdictions are converging on licensed venues subject to capital and conduct requirements, each on a published timetable.

The lead time is longer than most comparable regimes have allowed. MiCA moved from adoption to application in roughly 18 months.

A runway of more than a year suggests the FCA expects substantive operational change rather than registration alone.