UK FCA to Regulate Crypto Firms Under Financial Framework
The UK is preparing for a major shift in how cryptocurrency firms operate within its borders, as the Financial Conduct Authority (FCA) moves to bring digital assets under its existing financial regulatory framework rather than creating separate rules.
Regulatory Shift for Crypto Firms
Under the new approach, crypto businesses will transition from a basic anti-money laundering registration system to full financial regulation aligned with traditional banking standards. The FCA will open its regulatory application window on 30 September 2026, requiring firms to submit applications by 28 February 2027 to maintain operations ahead of mandatory compliance kicking in on 25 October 2027.
According to bunq’s 2026 Crypto Trust Index, 82% of British adults are actively trying to grow their wealth, yet only 29% have never invested in cryptocurrency. Despite interest, many potential investors lack confidence in where to begin.
Banks Trusted But Not Used
Joe Wilson, Chief Evangelist at bunq, highlights a disconnect between public trust and actual behavior. While 43% of respondents said they would trust their bank most to help them invest in crypto, just 7% currently turn to banks for information on the asset class.
Instead, users often rely on online forums or social media, with 12% using forums and 11% turning to social platforms for guidance. This gap suggests that while banks are viewed as credible, they’re not seen as accessible entry points for crypto investment.
Among those who haven’t invested, 65% cite limited understanding as the main barrier, and 37% say clear guidance would encourage them to start. The gender divide is notable too—37% of men have invested compared to just 21% of women, with nearly a quarter of women describing crypto as overly masculine.
Read Also: Bank Digital Adoption Soars to Near 90%
Banking Barriers and the Push Toward Regulation
Many high street banks continue to restrict access to cryptocurrency platforms. Some block payments to exchanges outright, while others impose strict transfer limits.
Neobanks Step Into the Gap
Licensed and regulated under the same standards as conventional banks, neobanks offer trust without the burden of legacy systems. This allows them to provide streamlined, app-based experiences that align with user expectations.
bunq’s approach to crypto follows the same logic that has defined the bank from the start: listen to users first, then build. When bunq launched crypto, it was a direct response to what users were asking for.
They wanted a way to grow their money in an environment they already trusted, without having to open a separate account on an exchange they had never heard of.
Britain’s front door to crypto belongs to whomever can be trusted without being complicated to use. The FCA’s framework makes 2027 the year that all this can change.
Joe Wilson, Chief Evangelist at bunq
