The UK's regulatory approach to cryptoassets is entering a new phase. For firms operating in digital assets, existing FCA registration under the Money Laundering Regulations (MLRs) will not be enough to continue operating under the incoming regime. Instead, businesses will need to apply through the FCA's new Crypto Gateway and demonstrate that they meet the standards expected of regulated financial services firms.
For many organisations, this is far more than a compliance exercise. It will require investment in governance, risk, financial crime controls and experienced regulatory professionals well before the application window opens.
What is the FCA Crypto Gateway?
The Crypto Gateway will become the FCA's application process for firms wishing to undertake regulated cryptoasset activities under the UK's new regulatory framework. According to the source material, this will apply to organisations including:
- Crypto exchanges
- Custody providers
- Stablecoin businesses
- Brokers and intermediaries
The key message is straightforward. Firms currently operating under AML registration alone should not assume they will automatically be authorised under the new regime.
Why does the new regime matter?
The UK is moving crypto regulation into the same framework used across wider financial services. That represents a significant increase in regulatory expectations.
Rather than simply meeting anti money laundering requirements, firms will need to demonstrate they have appropriate:
- Governance
- Risk management
- Financial resilience
- Consumer protection measures
- Operational controls
The expectation is moving from registration to authorisation, raising the standard for firms seeking to operate in the UK crypto market.
Already FCA registered? Don't assume you're covered
One of the biggest changes highlighted in the carousel is that there will be no automatic conversion from existing Money Laundering Regulations registration.
Crypto businesses currently registered with the FCA under the MLR framework will still need to apply for authorisation under the Financial Services and Markets Act (FSMA) if they wish to continue carrying out regulated activities once the new regime takes effect.
For leadership teams, this means existing regulatory status should not be viewed as a guarantee of future permission to operate.
Key dates firms should be planning for
The proposed implementation timetable gives firms a relatively short window to prepare.
The carousel highlights three key milestones:
- 30 September 2026 – The Crypto Gateway is expected to open.
- 28 February 2027 – Expected application deadline.
- 25 October 2027 – The new regulatory regime is expected to go live.
Applying early gives organisations more time to navigate what is likely to be a detailed authorisation process.
What happens if a firm doesn't apply?
The consequences could be significant.
According to the carousel, firms that miss the application window may face substantial restrictions. Businesses that never apply will need to wind down UK crypto activities before the new regime begins or risk operating without the necessary permissions.
Preparation therefore becomes both a regulatory requirement and a business continuity issue.
The hiring challenge starts long before authorisation
Perhaps the biggest implication for many organisations is talent.
Preparing for authorisation is not simply about producing documentation. Firms will need experienced professionals capable of building and maintaining the governance framework expected by the FCA.
The carousel identifies growing demand across:
- Compliance
- Financial Crime
- Risk
- Legal
- Regulatory Change
- Internal Audit
- Governance
Many of these skill sets are already in short supply across financial services. As firms begin preparing for the Gateway simultaneously, competition for experienced regulatory professionals is likely to increase.
What this means for crypto firms
The Crypto Gateway represents one of the most significant regulatory developments for the UK digital assets sector. While the application deadline may appear some distance away, the work required to reach authorisation is likely to begin much earlier.
For many firms, success will depend on building the governance structures, operational controls and specialist expertise needed to satisfy regulatory expectations, not simply completing an application.
Organisations that begin preparing early will have more time to strengthen their control environment, recruit specialist regulatory talent and navigate the authorisation process with confidence.
If your organisation is preparing for the FCA's Crypto Gateway, Broadgate can help you secure experienced Compliance, Risk, Financial Crime, Legal and Regulatory Change professionals to support your authorisation journey and long term regulatory strategy.