Are you interested in getting the FCA crypto registration (a.k.a., FCA crypto license UK or crypto exchange license)? Do you need explanations of rules and requirements applicable to crypto businesses in the UK? If your answer to these questions was yes, then you have come to the right place. In this page, you will find everything you need to know about the UK cryptocurrency license and how to get one.
Apart from describing our services and the manner in which we can help you to navigate the UK regime, you will find our free guide explaining what needs to be considered whenever preparing an application. Importantly, from October 2027, operating a crypto exchange, custody service, or stablecoin in the UK requires full FCA authorisation under FSMA, not the AML registration that firms previously held, and our guide covers exactly that. We explain all of the differences and main issues that will be faced by the applicants whilst covering what needs to be done to prepare a bulletproof application.
MLR Registration Is Not a Crypto License
What the industry calls a “crypto license UK” has, until now, been an FCA registration under the Money Laundering Regulations 2017 — an AML/CTF supervision requirement, not a financial services authorisation. The FSMA 2023 changes that entirely. From October 2027, firms carrying on regulated cryptoasset activities must hold a Part 4A permission, the same type of authorisation held by investment firms and credit institutions. MLR-registered firms are not automatically transitioned; each must apply separately.
Who this affects: Exchanges (QCATP operators), custodians, brokers dealing as principal or agent, firms arranging deals or safeguarding, stablecoin issuers, and staking intermediaries. Incorporation outside the UK is not a shield, the perimeter follows activity directed at UK consumers. There is no EU passporting for cryptoasset services.
Our Crypto License UK Authorisation Service
We cover the full process- perimeter analysis, application build, FCA liaison, and post-authorisation support. Senior practitioners throughout; no junior handoffs.
- Perimeter & Readiness Assessment: We map your activities against the new regulated activities framework, identify every permission required, flag overlapping regimes, and give you an honest view of whether your structure and team are ready to apply. This stage prevents wasted submissions.
- Corporate Structure & Senior Management: Legal entity setup, governance design, board composition, and SMCR appointment strategy. We identify gaps in regulatory experience at senior management level before the FCA does, and help you address them before submission, not during it.
- Full Application Documentation: Regulatory business plan, risk framework, AML/CTF policies, safeguarding arrangements, fit and proper documentation, and financial projections; drafted for your specific business, not adapted from templates.
- FCA Submission & Information Round Management: We assist in submitting the application via Connect and manage the entire assessment process- including formal information requests, which pause the statutory clock and each add months to the timeline. Proactive responses to FCA queries are the primary lever for compressing the review period.
- Post-Authorisation Support: Supervisory engagement, regulatory reporting, Consumer Duty implementation, and ongoing policy maintenance. Authorisation triggers obligations from day one and we help you meet them.
The FCA Assessment Framework
FSMA authorisation assesses everything MLR registration did — and substantially more. If you hold an MLR registration, you know the inner ring. The outer ring is what authorisation adds, and it is where most firms are least prepared.
Timeline and Process
Two phases. Preparation takes around three months — this is where applications are won or lost. FCA review of a complete application takes a further eight to twelve months. The statutory three-month clock does not start until the FCA accepts the application as complete and rarely that is the case.
- Preparation (~3 months): Perimeter analysis, corporate structuring, SMCR appointments, full documentation build, and pre-submission review. Three months is the realistic minimum. Applications rushed through this phase stall at completeness review before the FCA clock has even started.
- FCA Review (8–12 months): Once the FCA accepts the application as complete, assessment begins. Formal information requests pause the clock entirely — each round adds two to three months. Managing these responses proactively is the main lever for compressing the timeline.
Why Choose PSP Lab for Your FCA Crypto Authorisation
We can help you obtain the FCA crypto license in the UK. We have all the required expertise, a lot of practice, and some insider knowledge as an APCC member. PSP Lab can help you with all the documents, policies and procedures required to become authorised, the entire application process and communications with the regulator. Unlike many other firms, we do everything, including drafting all documents, helping with software, office, legal contracts, and human resources. Your success is our success. Feel free to reach out to us for a consultation.
If you have any questions regarding a crypto registration don’t hesitate to contact us.
