The United Kingdom has moved closer to full crypto oversight after regulators published new operational guidance.
The guidance explains how firms can access the country’s upcoming crypto-asset regulatory regime.
The framework was issued by the Financial Conduct Authority as part of wider financial reforms.
The rules clarify how crypto businesses must apply to continue serving customers in the UK.
All firms conducting regulated crypto-asset activities will require authorisation under the Financial Services and Markets Act 2000.
This requirement applies to both new applicants and firms already operating in the market.
Companies registered only under existing anti-money laundering rules will not receive automatic approval.
Those firms must submit a full application for authorisation before the new regime begins.
Firms already authorised under financial services law must also update their permissions to include crypto activities.