Last checked: 23 September 2026
The short answer
A firm listed as registered under the UK’s anti-money laundering rules is not automatically fully authorised for the wider cryptoasset regime. The FCA says firms within the future regime will need FCA authorisation under the Financial Services and Markets Act 2000. The scheduled application window for firms relying on the savings provisions runs from 30 September 2026 to 28 February 2027, subject to the conditions in the rules.
That means a status check needs more than the word “registered”. Check what the FCA record says, which permissions or status it shows, and whether the firm is relying on a transitional arrangement. The FCA Firm Checker is a starting point, not a substitute for reading the firm’s specific entry and permissions.
What changes for UK crypto firms?
The UK has had a registration system for certain cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. That system is focused on anti-money laundering and counter-terrorist-financing supervision.
The new framework is broader. The FCA policy statement says regulated cryptoasset activities will move into an authorisation regime under FSMA. The FCA’s examples include activities connected with trading platforms, intermediaries, custody, stablecoin issuance and arranging staking. The precise perimeter depends on the activity and the legislation in force at the time.
The FCA says the full scope of regulated activities will expand from 25 October 2027. Until the new rules take effect, its crypto oversight continues to include financial promotions and anti-money laundering controls, rather than the full set of future regime requirements.
Registration and authorisation compared
| Status or route | What it means | What it does not mean |
|---|---|---|
| Registered under the MLRs | The firm is on the FCA’s register for the relevant anti-money-laundering registration framework. | It does not, by itself, mean the firm has full permission for every future regulated cryptoasset activity. |
| Authorised under FSMA | The FCA has granted permission for the regulated activity or activities shown in the firm’s record. | It does not remove all risk, and the permission should not be assumed to cover services that are not listed. |
| Application made under the savings provisions | A firm may be able to continue specified activities while its application is assessed, if it meets the relevant conditions and applied within the permitted window. | An application is not the same as an authorisation decision. It is not proof that the application will be approved. |
| Outside the FCA record or showing no relevant permission | The search has not established the permission or status needed for the service being offered. | It is not a basis for treating the firm as authorised for that service. Recheck the name, trading name and details before drawing a conclusion. |
The table uses plain-language categories. The legal effect of a firm’s status depends on the relevant statutory provisions, FCA entry and activity.
The 2026 application window
The FCA’s policy-statement overview currently says the window for firms wishing to rely on the savings provisions is scheduled to open on 30 September 2026 and close on 28 February 2027. The FCA’s June 2026 announcement also gives those dates and says the mandatory regime will come into force on 25 October 2027.
The word “scheduled” matters. Dates and transitional conditions should be checked against the latest FCA material and legislation before publication or a status decision. A firm applying during the window is still an applicant. The FCA says firms that apply within the window may, if they meet the relevant conditions, continue specified activities under the savings and transitional provisions until the FCA determines the application.
A firm that applies after the window closes cannot rely on those provisions in the same way, according to the FCA overview. It may need to stop carrying on relevant activities until authorised. The exact outcome depends on the activity, the firm’s circumstances and the applicable statutory rules.
What transitional status means for a reader
Transitional arrangements are there to manage the change from the existing framework to the new one. They do not turn an MLR registration into a completed FSMA authorisation.
When reading a firm’s description of its status, separate these questions:
- Is the firm registered under the MLRs? This addresses the existing anti-money-laundering registration framework.
- Has the FCA authorised the firm for the service in question? Look for the relevant permission, not just a general reference to FCA registration.
- Has the firm applied under the savings provisions? An application or transitional position is not a final authorisation.
- What is the FCA record’s current wording? Use the record rather than relying only on a firm’s website, advert or social-media description.
- Is the service the firm offers within the permission or transitional scope shown? A status connected with one activity does not automatically cover another.
The FCA Firm Checker says it can be used to check whether a financial firm is authorised and whether it has permission to provide the service you want. It also points users to information that may not appear in the consumer tool, including published restrictions relating to crypto activities. Open the underlying FCA record where possible and read the permissions and restrictions.
How to phrase a status check accurately
Use wording that matches the evidence you found. For example:
- “The FCA record shows the firm as registered under the anti-money-laundering framework. This is not the same as confirming full authorisation under the future cryptoasset regime.”
- “The FCA record shows permission for [specific activity]. The record should be checked to see whether that covers the service being offered.”
- “The firm says it has applied under the transitional arrangements. That is an application or transitional claim, not a completed authorisation decision.”
- “I could not confirm the relevant FCA permission for this firm and service from the record checked on [date].”
Avoid saying a firm is “FCA approved” when the source only shows MLR registration, an application, a warning-list entry or a limited permission. Avoid saying that registration proves a service is safe, that losses are protected, or that the FCA has endorsed a firm’s products. Those claims do not follow from the status categories explained here.
What the legislation says
The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 underpin the new regime. The published instrument includes savings and transitional provisions and amendments to the 2017 Money Laundering Regulations. The legislation provides for an FCA register of relevant cryptoasset exchange providers and custodian wallet providers that are not authorised cryptoasset firms, while also setting information requirements for authorised firms acting in those roles.
This is why a register entry needs context. The same broad subject area can involve an existing MLR entry, a future FSMA permission, a transitional route or more than one regulated activity. The current text and any amendments in force should be checked when a firm makes a status claim.
A practical reader checklist
Before relying on a firm’s claimed status:
- Search the firm in the FCA Firm Checker.
- Check the exact legal name and any trading name shown in the FCA record.
- Read the permissions, activities, restrictions and status wording.
- Note the date you checked and save the FCA record or reference.
- Treat “registered”, “applied”, “transitional” and “authorised” as different descriptions.
- If the firm is not found, or the permission does not match the service, do not describe it as authorised for that service.
For background, see TheCoinExpert’s digital assets guide, its crypto scams guide, and the glossary entry on what a cryptoasset is. These explain related terms but do not replace a current FCA status check.
Sources
- FCA, Overview of our cryptoassets regime policy statements, published 30 June 2026, checked 23 September 2026. This is the source for the scheduled application window, the future authorisation requirement, the 25 October 2027 expansion date and the savings-provision explanation.
- FCA, FCA Firm Checker, checked 23 September 2026. This is the source for how consumers can check authorisation and service permissions and for the limits of the consumer-facing tool.
- FCA, FCA sets landmark crypto rules to cement the UK’s place as a global hub, published 30 June 2026, checked 23 September 2026. This confirms the 30 September 2026 to 28 February 2027 application dates and the 25 October 2027 mandatory regime date.
- The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, checked 23 September 2026. This is the published statutory instrument containing the cryptoasset framework, savings and transitional provisions and amendments to the MLR framework.
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, latest available revised version checked 23 September 2026. This is the legislation for the existing MLR framework.
This article explains regulatory status terms and how to read public records. It is not financial, legal or investment advice, and it does not recommend any cryptoasset firm or service.