The UK's Financial Conduct Authority (FCA) has announced that UK crypto asset service providers must obtain full authorization before new regulations take effect in October 2027. The FCA anticipates the application period will open in September 2026, and all companies offering regulated crypto services in the UK will be required to obtain authorization under the Financial Services and Markets Act. Entities already registered under anti-money laundering regulations will not automatically change their status and will still need to obtain new authorization. Companies that fail to apply on time will face transitional restrictions after the new regulations take effect, allowing them only to continue offering existing products and prohibiting them from launching new businesses.