How do I register for a crypto license in the UK?

You can submit an online application through the FCA portal.

What are the FCA requirements for crypto companies?

The company must be registered under UK law, have a UK office, and engage in or facilitate cryptoasset activities in the UK.

How much does a UK crypto license cost?

The fee to register a crypto license in the UK is £11,150, and there is an annual (periodic) fee.

How long does it take to get FCA registration?

It can take from 3 to 6 months, depending on how complete the application is.

What activities require a crypto license in the UK?

Main activities: • Cryptocurrency Exchanges • Wallet Providers • ICO and STO Platforms

Are crypto transactions taxed in the UK?

Yes, profits from crypto may be subject to Capital Gains Tax or Income Tax.

Can non-residents open crypto companies in the UK?

Yes, a non-resident can incorporate the crypto company in the UK.

What is the difference between FCA license and registration?

The FCA crypto license in the UK is essentially a registration under the AML/CTF regime. While it's not officially called a license, it functions similarly, as providing certain crypto services in the UK requires this registration.

Is UK crypto regulation aligned with MiCA?

The UK is developing its own regulatory framework inspired by MiCA, which the FCA aims to implement by 2026.

Crypto License in the UK

Top Clutch Internet Technology Law Company 2026.png

years’ experience

1000+

companies registered

view reviews

Why Choose the UK for a Crypto License

FCA Regulatory Support and Innovation Environment

The Financial Conduct Authority (FCA) regulates financial services firms in the UK, ensuring they meet set standards and holding them accountable. The FCA supports the UK's reputation as a leading financial centre by:

Creating rules and guidance
Detecting market-wide issues and implementing remedies
Authorising financial firms and individuals
Adopting a proportionate regulatory approach
Using data for swift problem identification and action.

Types of Crypto Activities in the UK

Crypto Exchange and Trading Services

In the UK, a crypto exchange provider refers to a firm or individual that, as part of their business, offers one or more of the following services which require crypto exchange license in the UK:

Exchanging cryptoassets for money or vice versa,
Exchanging one cryptoasset for another, or
Operating a machine that automates the exchange of cryptoassets for money or vice versa.

Crypto Wallet and Custody Solutions

The UK crypto laws define the custodian wallet provider as a firm or sole practitioner who, by way of business, provides services to safeguard, or to safeguard and administer:

cryptoassets on behalf of its customers, or
private cryptographic keys on behalf of its customers in order to hold, store and transfer cryptoassets, while offering these services.

ICOs, Token Offerings, and Crypto Payments

An ICO (Initial Coin Offering) is a method of raising funds through cryptocurrency, also known as a token or coin sale. The digital tokens issued can represent shares in a company, prepayment for services, or may have no apparent value.

Currently, using crypto in the UK for payments is limited, primarily accepted by some IT and travel companies, but not for everyday shopping.

get free consultation

How to Get a Crypto License in the UK

Application Process with the FCA

To trade or provide crypto services, apply for a crypto license in the UK with the FCA before starting cryptocurrency trading in the UK and/or some other cryptoasset services.

Application Process:

1. Preparation: Gather necessary documents (business plan, AML/CTF policies, personnel details).

2. Submit Application: Use the FCA’s online portal to submit information and documents.

3. FCA Review: The FCA reviews the application and may request more information.

4. Decision: If satisfied, the FCA will grant registration.

Timeline and Registration Fees

Once you submit your application, it will be assigned to a case officer who may request additional information, which may require extra time to gather. Once all information is received, FCA has 3 months to assess the registration. The crypto license in the UK cost is £11,150. Registered cryptoasset businesses must pay an annual minimum fee of £2,229, plus a variable fee of £15.13 for every £1,000 of income over £100,000.

Approval, Supervision, and Ongoing Compliance

If your firm meets the registration requirements, the FCA will approve your application and confirm your registration with a Firm Reference Number (FRN), adding you to the Financial Services Register.

Possessing an FCA crypto registration entails continuous obligations:

Routine AML/CTF reporting and internal audits.
Overseeing transactions and submitting Suspicious Activity Reports (SARs).
Continuous risk evaluations and staff training.
Submitting annual and on-demand reports to the FCA.

5.0

"Their adept use of technology for communication and project management streamlined the entire process."

Thanks to Icon.Partners' efforts, the client was able to integrate with major platforms, such as Google, Facebook, and Stripe, and optimize their platform. The team was highly supportive and responsive from a workflow standpoint, and internal stakeholders were particularly impressed with the service provider's flexibility, professionalism, and technical prowess.

Read the full review on Clutch

Oleksandr Platonov
CEO, VorfahrQR UG

Germany📍
Apr 10, 2024

5.0

"They have a modern and technological approach to doing business."

The client is satisfied with Icon.Partners' work, whose documentation is a vital part of their success. The client resolves legal and financial issues with the help of the team. Their excellent communication skills, timely delivery, modern approach, and diverse expertise make them a great partner.

Read the full review on Clutch