UK Sets 2027 Deadline for Full Crypto Regulatory Regime Amid Mixed Industry Reactions
The UK Treasury has drawn a line in the sand for crypto regulation, with October 2027 marking the implementation date for its comprehensive framework. Exchanges and custodians serving UK clients will require FCA authorization under FSMA-style rules, replacing the current patchwork of money-laundering registrations and risk warnings.
Industry voices are divided on the timeline. Bitcoin Policy UK's Freddie New lambasts the schedule as "farcical," contrasting it with the EU's operational MiCA framework and advancing US legislation. Meanwhile, Treasury officials frame the move as necessary housekeeping—bringing crypto "inside the perimeter" with established transparency and governance standards.
Economic Secretary Lucy Rigby KC MP positions the rules as a competitive play: "We want the UK to be at the top of the list for cryptoassets firms looking to grow." Yet the delayed timeline signals regulatory caution rather than urgency, with an upcoming FCA consultation set to map crypto activities into its Handbook.