The UK Financial Conduct Authority (FCA) has opened applications for crypto firms, marking the first time they will be brought under full regulation in the UK. The new regime, which takes effect on 25 October 2027, will enforce clear standards covering consumer protection, safeguarding, market integrity, and financial resilience. Firms intending to operate in the UK must apply by 28 February 2027. FCA Director of Authorisation Dominic Cashman stated that this will provide greater protections for consumers and a clear framework for firms.