Blockchain.com Secures FCA Approval in the UK - A Major Milestone for Crypto Legitimacy

London's financial regulators just handed crypto a major win. Blockchain.com—one of the industry's oldest and largest players—has been granted full approval by the UK's Financial Conduct Authority (FCA).

The Regulatory Green Light

This isn't just another license. The FCA stamp means Blockchain.com can now offer its full suite of crypto services—trading, custody, and more—to UK customers under a fully compliant framework. It's a signal that serious crypto infrastructure is moving from the regulatory grey zone into the mainstream financial system.

Why This Matters

For years, UK crypto firms operated under temporary registrations, a limbo that stifled growth and innovation. This full approval cuts through that uncertainty. It gives institutional and retail investors alike the confidence that a major platform meets the UK's stringent anti-money laundering and consumer protection standards—the same rules traditional finance plays by.

The Bigger Picture

Watch for a domino effect. This approval sets a precedent. It shows other global crypto giants a clear, albeit demanding, path to operating in one of the world's top financial hubs. Expect more exchanges to fast-track their compliance efforts, betting that legitimacy is the new competitive edge.

A Cynical Finance Jab

Meanwhile, traditional banks—still charging outrageous fees for international transfers that take three business days—are watching from the sidelines, hoping regulators will protect their antiquated margins just a little while longer.

The approval isn't just a piece of paper. It's a declaration that crypto, when properly regulated, has a permanent seat at the financial table. The game just changed.

Blockchain.com eyes partnerships with banks and financial firms

The approval allows Blockchain.com to operate in accordance with the UK’s anti-money laundering and counter-terrorism financing regulations. The FCA registration enables the company to deliver brokerage, custodial, and institutional-grade crypto services.  

Blockchain.com also plans to leverage this authorization to collaborate with banks and other regulated financial institutions.

Although the company can now provide crypto-related services in the UK, it is still subject to the current licensing regime. The FCA’s crypto licensing framework does not yet provide full financial services authorization.

To that end, the company said it is committed to securing full authorization under the government’s new permanent regulatory regime, which is expected to take effect in 2027.

“We are committed to working hand-in-hand with the FCA and UK policymakers as they shape the permanent regulatory framework, ensuring the UK remains a global leader in financial innovation,” Blockchain.com founder and CEO Peter Smith said.

The approval follows Blockchain.com securing its MiCA (Markets in Crypto-Assets) license last year, which provides passporting rights across all 30 European Economic Area (EEA) countries under one unified regulatory framework. Currently, Blockchain.com said it has a presence across more than 70 jurisdictions globally.

FCA to finalize UK crypto rules by Summer 2026

The UK’s FCA’s executive director of payments and digital finance, David Geale, said in a speech that the agency will set its final rules for digital assets in early summer. He said that the FCA is “open for business, and we want crypto firms to succeed.”

The FCA has been consulting on its proposed approach to crypto regulation since the UK Treasury published a draft Statutory Instrument last April. This is meant to issue stablecoins, safeguard crypto activities, and operate a crypto trading platform, intermediation, and staking under the regulator’s remit.

At the end of last year, the FCA set ambitious new growth targets for 2026, including finalizing digital asset rules and advancing the UK-issued sterling stablecoins, to provide “faster and more convenient” payments.

According to an FCA press release at the time, the regulator said it WOULD open up its regulatory sandbox. The regulators called it a scheme for the safe testing of products and for supporting innovative policy development for firms wanting to experiment with the issuance of stablecoins.

The legislation is yet to be officially passed into law. However, when it eventually does, the FCA wants to be ready to implement its new framework.

As reported by Cryptopolitan, the FCA published its final consultation paper for crypto-asset regulation a couple of weeks ago. It focused on how the FCA’s “Consumer Duty” rules will apply to digital currency firms, as well as the regulator’s proposed approach to international firms.

He encouraged all interested parties to share their views on the proposals by the March 12 deadline. “We want innovators, regulators, government, and industry all involved in shaping the future of crypto in the UK,” said Geale.

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