Blockchain.com wins UK FCA’s registration nearly 4 years after walking away

Blockchain.com has won regulatory approval in the UK. The crypto exchange has been added to the Financial Conduct Authority’s (FCA) registry of licensed crypto companies under its trading name “BC Operations” today.

The company said being granted registration places them under immediate oversight. Rather than waiting for legislation, Blockchain.com is currently operating under the very same strict standards that traditional finance and banks adhere to in the UK.

FCA oversight helps, but custody risk still comes down to execution.

— Tychi Labs (@TychiLabs) February 10, 2026

This approval marks a key milestone for the company, following the initial abandonment of its bid for FCA licensing in March 2022. The company joins other 50 firms, including Coinbase UK, Moonpay, Bitstamp, Binance, and Kraken.

Blockchain.com eyes partnerships with banks and financial firms

The approval allows Blockchain.com to operate in accordance with the UK’s anti-money laundering and counter-terrorism financing regulations. The FCA registration enables the company to deliver brokerage, custodial, and institutional-grade crypto services.  

Blockchain.com also plans to leverage this authorization to collaborate with banks and other regulated financial institutions.

Although the company can now provide crypto-related services in the UK, it is still subject to the current licensing regime. The FCA’s crypto licensing framework does not yet provide full financial services authorization.

To that end, the company said it is committed to securing full authorization under the government’s new permanent regulatory regime, which is expected to take effect in 2027.

“We are committed to working hand-in-hand with the FCA and UK policymakers as they shape the permanent regulatory framework, ensuring the UK remains a global leader in financial innovation,” Blockchain.com founder and CEO Peter Smith said.

The approval follows Blockchain.com securing its MiCA (Markets in Crypto-Assets) license last year, which provides passporting rights across all 30 European Economic Area (EEA) countries under one unified regulatory framework. Currently, Blockchain.com said it has a presence across more than 70 jurisdictions globally.

FCA to finalize UK crypto rules by Summer 2026

The UK’s FCA’s executive director of payments and digital finance, David Geale, said in a speech that the agency will set its final rules for digital assets in early summer. He said that the FCA is “open for business, and we want crypto firms to succeed.”

The FCA has been consulting on its proposed approach to crypto regulation since the UK Treasury published a draft Statutory Instrument last April. This is meant to issue stablecoins, safeguard crypto activities, and operate a crypto trading platform, intermediation, and staking under the regulator’s remit.

At the end of last year, the FCA set ambitious new growth targets for 2026, including finalizing digital asset rules and advancing the UK-issued sterling stablecoins, to provide “faster and more convenient” payments.

According to an FCA press release at the time, the regulator said it would open up its regulatory sandbox. The regulators called it a scheme for the safe testing of products and for supporting innovative policy development for firms wanting to experiment with the issuance of stablecoins.

The legislation is yet to be officially passed into law. However, when it eventually does, the FCA wants to be ready to implement its new framework.

As reported by Cryptopolitan, the FCA published its final consultation paper for crypto-asset regulation a couple of weeks ago. It focused on how the FCA’s “Consumer Duty” rules will apply to digital currency firms, as well as the regulator’s proposed approach to international firms.

He encouraged all interested parties to share their views on the proposals by the March 12 deadline. “We want innovators, regulators, government, and industry all involved in shaping the future of crypto in the UK,” said Geale.