Blockchain.com Wins FCA Approval, Returns to UK Crypto Scene

Blockchain.com got the green light. The Financial Conduct Authority just approved the crypto firm’s registration after nearly four years of being shut out of the UK market, and the timing couldn’t be better with new regulations coming fast.

The FCA added Blockchain.com to its official list of licensed crypto companies under the name “BC Operations” today. The registration lets the London-based firm handle specific crypto activities in the UK, but only if it follows strict anti-money laundering and counter-terrorist financing rules. Blockchain.com previously tried getting FCA approval but pulled its application in March 2022 right before a regulatory deadline hit. After that withdrawal, the company moved its regulatory base to Lithuania and kept running operations there instead. But now they’re back, and the stakes are way higher than before.

The company didn’t waste time celebrating.

“Securing this registration today puts us under active oversight immediately,” Blockchain.com said in a statement. The firm runs cryptocurrency exchange and wallet services, and it’s pretty clear they want to play by the rules this time around. CEO Peter Smith called the UK approval strategic, saying on February 10, 2026, that it lets Blockchain.com “expand our footprint in one of the world’s leading financial centers.” Smith seems confident the timing works in their favor, especially with bigger regulatory changes coming down the pipeline.

The FCA is rolling out a comprehensive crypto licensing framework starting October next year. That’s when things get really serious for crypto firms operating in the UK. The new rules go way beyond just financial crime stuff and will cover broader regulation of crypto services across the board. Companies need to secure authorization under the Financial Services and Markets Act before the framework kicks in during October 2027.

Not everyone’s ready for what’s coming. This follows earlier reporting on FCA Picks KPMG to Review Open.

The FCA opened application opportunities this September for crypto firms planning to engage in regulated activities. But the agency also started a public consultation to figure out how current handbook rules will apply to crypto entities. The process aims to make the transition smoother for firms, though nobody knows exactly how it’ll play out yet. Some industry watchers think the consultation might reveal gaps that could trip up unprepared companies.

Blockchain.com’s move back into the UK regulatory environment comes as compliance becomes a bigger deal across the crypto industry. The firm wants to attract institutional clients who’ve been scared off by the unregulated nature of digital assets. By aligning with FCA regulations, Blockchain.com thinks it can grab market share from competitors who haven’t gotten their regulatory house in order. The strategy makes sense, but execution won’t be easy with so many moving parts in the regulatory landscape.

Other crypto firms are watching closely. The FCA’s requirements could set precedents that influence how crypto companies worldwide approach compliance and regulatory engagement. And there’s more regulatory pressure building – the UK Treasury announced plans in January 2026 to introduce comprehensive laws governing digital currencies, aiming to position the UK as a global leader in fintech innovation.

The FCA has been pushing crypto firms to prepare for the new framework rolling out in October 2027. An FCA spokesperson said the agency wants to work closely with companies like Blockchain.com to ensure a smooth transition, focusing on consumer protection and market integrity. That collaboration sounds good in theory, but the reality of implementing new rules across an entire industry usually gets messy fast. For more details, see Crypto Markets Plunge at Record Speed.

Blockchain.com is already exploring partnerships with UK-based financial institutions to leverage its newly secured regulatory status. The company hopes to integrate its crypto services into more traditional financial systems by working with established banks. Smith thinks this approach will help bridge the gap between digital and conventional finance, though the company hasn’t named specific partners yet. The partnerships could give Blockchain.com a serious competitive advantage if they can pull off the integration smoothly.

But the regulatory environment keeps shifting. The FCA’s upcoming licensing framework is part of a broader initiative to integrate crypto services more closely with traditional financial systems, and by October 2027, all crypto firms must comply with the Financial Services and Markets Act. The FCA believes the new rules will enhance market stability and consumer protection, but crypto companies are still figuring out what compliance will actually cost them in terms of time and resources.

Blockchain.com’s registration gives the firm nearly two years to prepare for the bigger regulatory changes ahead. The company’s proactive approach might pay off if other firms struggle to meet the October 2027 deadline.