UK to Bring Crypto Under Financial Regulation by 2027
The UK government will introduce legislation on Monday placing cryptocurrency firms under existing financial sector laws by October 2027. The Financial Conduct Authority (FCA) will oversee crypto companies with the same rigor applied to traditional finance.
Finance Minister Rachel Reeves framed the MOVE as consumer protection against "dodgy actors" while providing market clarity. The approach mirrors the US regulatory model rather than the EU's bespoke framework for digital assets.
Currently, crypto businesses only require FCA registration for anti-money laundering purposes. The 2027 shift represents a significant tightening as firms will need to comply with full financial services regulations.