Will Your Crypto Exchange Still Serve You in 2027? How to Check Its FCA Status

You can't yet look up whether your exchange will be authorised for 2027, because the FCA is only now taking applications. What you can do is check its current status on the FCA register, confirm it isn't on the warning list, and ask it directly whether it has applied in the window that runs from 30 September 2026 to 28 February 2027.

The new regime starts on 25 October 2027. From then, firms offering crypto services to UK customers need FCA authorisation under FSMA. Being registered under the anti-money-laundering rules today won't carry over automatically, and that's the bit most people miss.

What changed when the FCA application window opened?

On 30 September 2026, the FCA started accepting authorisation applications from crypto firms through its Connect system. The window closes on 28 February 2027. Firms already serving UK customers that apply inside it can keep operating while the FCA decides, even if that runs past October 2027.

The FCA says there's no automatic conversion for firms registered under the Money Laundering Regulations (MLRs). Firms registered under the payments or e-money rules also need FSMA authorisation, and existing FSMA-authorised firms have to vary their permissions. The FCA says it expects to decide applications made in the window before the regime starts. For firms still waiting on 25 October 2027, a "saving provision" lets them carry on until the application is finally decided.

Miss the window and the picture is very different. The FCA won't speed up late applications. A late applicant that isn't authorised by commencement falls into a "transitional provision", where it can only perform contracts made before that point and can't take on new contracts with new or existing UK customers. A firm that never applies must run off its UK crypto business before 25 October 2027.

Your exchange's position	What it can do after 25 October 2027	What it means for you
Authorised before the regime starts	Carry on as an FCA-authorised firm	Service continues under FCA rules
Applied in the window, still waiting	Keep providing services under the saving provision	Service continues while the FCA decides
Applied in the window, refused (and any appeal fails)	Transitional provision, orderly exit	Expect to be asked to withdraw or move assets
Applied after 28 February 2027, not yet authorised	Only perform pre-existing contracts	No new contracts with you, even as an existing customer
Never applied	Must have run off UK business beforehand	Account likely closed before October 2027

Photo via Unsplash

How do I check my exchange on the FCA register?

Search the firm's legal name on the Financial Services Register at register.fca.org.uk. Today, a crypto exchange's entry will usually show whether it's registered under the MLRs for cryptoasset business. After October 2027, you'll want to see FSMA authorisation with permissions for the specific crypto activities it offers you.

A few practical tips. Use the legal entity name, not the app's brand, because they often differ; the name is usually in the app's terms or footer. Check the firm reference number matches the one the exchange quotes. And look at the status line carefully, since "registered" and "authorised" aren't the same thing.

The FCA's Firm Checker is quicker but thinner. The FCA says it leaves out published restrictions relating to crypto activities, so for an exchange it's worth using the full register too. Changes can take around 24 hours to show.

What does the FCA warning list tell me?

The Warning List names firms and individuals the FCA believes are running scams or operating without its authorisation. If your exchange, or a website copying its name, appears there, treat that as a serious red flag. Being absent from the list doesn't prove a firm is safe or authorised.

Watch for clones. Scammers copy the names, logos and reference numbers of real firms. Always reach the exchange through an address you've typed yourself or saved before, never a link from a message or advert. (Our guide to spotting a fake crypto exchange has more checks.)

What should I ask my exchange?

Ask it plainly whether it has applied for FCA authorisation under the new regime, and when. A firm serving UK customers has every reason to apply in the current window, because that's what protects your service through the changeover. Vague answers are information too.

Here's a short list worth sending to support:

1. Which legal entity holds my account, and what's its FCA firm reference number?
2. Has that entity applied for FSMA authorisation, or a variation of permission, in the window ending 28 February 2027?
3. Which crypto activities does the application cover (trading, custody, staking, lending)?
4. If the application is refused or delayed, how and when would you tell me, and how would I get my assets out?
5. Will any products I use now be withdrawn for UK customers?

Don't expect a firm to share its application file, and don't read too much into a polite non-answer on timing. The FCA itself can't guarantee a decision date. But a firm that won't confirm whether it's applied at all, five months before the window shuts, deserves a closer look.

I'd add one opinion here. The worst outcome for most people isn't a dramatic collapse. It's a dull email in mid-2027 saying the service is closing to UK customers in 30 days, with coins scattered across an app they barely open. Knowing where everything sits now makes that email a five-minute job.

When will I know for sure?

Not until the FCA decides each application, which it aims to do before 25 October 2027. Authorisation is never automatic, so the register remains the place to confirm. Check again after the window closes in March 2027 and once more before the regime starts.

The FCA has asked firms to apply as soon as possible within the window to avoid disruption, and warns that poor-quality applications risk delays or refusal. If your exchange tells you it has applied, there's nothing more you need to do for now except keep your records tidy. If it's planning to leave the UK, you'll want time to move assets calmly rather than in a rush.

Frequently asked questions

Is my crypto exchange automatically authorised under the new FCA regime? No. The FCA says firms registered under the Money Laundering Regulations don't convert automatically. They must apply for FSMA authorisation, and existing FSMA firms must vary their permissions. The FCA warns that poor-quality applications risk delay or refusal.

When is the deadline for crypto firms to apply to the FCA? The application window runs from 30 September 2026 to 28 February 2027. Firms can apply later, but the FCA won't speed up late applications, and late applicants risk being unable to take on new business when the regime starts on 25 October 2027.

What happens to my account if my exchange doesn't get authorised? A firm that never applies must run off its UK business before 25 October 2027. One refused after applying in the window enters a transitional provision to leave the UK market in an orderly way. Either way, expect notice to withdraw or move your assets.

Where do I check if a crypto firm is regulated in the UK? Use the Financial Services Register at register.fca.org.uk and search the firm's legal name. Also check the FCA Warning List. The quicker Firm Checker doesn't show published crypto restrictions, so use the full register for crypto firms.

Does FCA registration mean my crypto is protected? Not by itself. Today's MLR registration is about anti-money-laundering checks, not wider consumer protection. Read each exchange's own risk warnings and terms on custody, and see our guide on what happens if an exchange fails.

What to do now

Note the legal name and firm reference number of every exchange you use, check each on the register this month, and send the five questions above. Put a reminder in your calendar for March 2027. For more background, see our earlier look at the FCA authorisation gateway, the FCA's final crypto rules and what happens if an exchange goes bust.