Crypto exchange authorisation in the UK

Authorisation to run a cryptoasset trading platform for UK customers.

Reviewed by Harry Khan, Founder · 10 November 2026

Operating a qualifying cryptoasset trading platform is one of the seven activities that need FCA authorisation from 25 October 2027. A trading platform brings together buyers and sellers of cryptoassets under its own rules, as an exchange does.

Who needs it

Exchanges and trading venues matching buy and sell orders from UK customers
Overseas exchanges serving UK consumers
Platforms planning a UK branch to connect UK orders to a global order book

At a glance

Item	Detail
Regulator	Financial Conduct Authority (FCA)
Permanent minimum capital	£150,000
FCA application fee	£28,150 (category 7)
Application window	30 September 2026 to 28 February 2027
Regime starts	25 October 2027
FCA decision period	6 months from a complete application, 12 from an incomplete one

What the FCA requires

Own funds of at least £150,000, or more under the fixed overheads or K-factor calculation; the trading flow K-factor is 0.1%
Admissions and disclosure rules for every cryptoasset the platform admits to trading
Market abuse rules: preventing, detecting and disrupting insider dealing and manipulation, and reporting it
For platforms above £10 million in revenue, sharing information with other platforms and monitoring linked wallets on-chain
Retail orders executed only on UK-authorised trading venues
Custody permission where the platform holds customer assets, plus senior managers based in the UK and an MLRO

How we help

ScopeWe confirm which of the seven activities your business carries on, and the capital and fee that follow.
PrepareBusiness plan, financial projections, policies, wind-down plan and the individual forms for your senior managers.
FileThe application submitted through the FCA’s Connect system inside the window.
AnswerWe handle the FCA’s questions until it decides, then support the first year of compliance.

Get in touch

Tell us where you are and where you want to be.

[email protected]
+44 7563 115980 (phone and WhatsApp)

Further detail

Overseas platforms and UK branches

The FCA accepts a UK branch model in suitable cases, for example a UK branch running the central platform functions so UK orders can reach a global pool of liquidity, with a UK company used for activities such as safeguarding. There is no formal equivalence for overseas platforms; each branch application is assessed case by case.

Execution venue deadline

The FCA intends to consult on a mechanism that could defer the requirement to execute retail orders on UK-authorised venues by up to three months, to January 2028.

Questions

What does a UK crypto exchange licence cost?

The FCA application fee for a trading platform is £28,150, category 7, the highest fee in the regime. Permanent minimum capital is £150,000.

Can an overseas exchange serve UK customers after October 2027?

Only with FCA authorisation. Dealing with UK consumers from overseas is treated as carrying on the activity in the UK, and the overseas persons exclusion is not available for these activities.

What are the admissions and disclosure rules?

Rules on which cryptoassets a platform may admit to trading and the information that must be published about them, set in the FCA’s final rules on admissions, disclosures and market abuse.

Does a platform also need custody permission?

Yes, where it holds customers’ cryptoassets or arranges for another firm to hold them.

Sources

From the blog

All articles

November 2026