Robinhood receives UK crypto registration from FCA ahead of 2027 licensing regime

Robinhood received crypto services registration in the UK from the Financial Conduct Authority (FCA) on July 31, confirming it meets current anti-money laundering rules. This approval, which prohibits Robinhood from holding customer crypto, positions the firm ahead of a more comprehensive licensing regime set to take effect in October 2027. The application window for the new rules, which will cover capital and market abuse, runs from September 2026 to February 2027.

Robinhood FCA registration

• ▪Robinhood previously attempted to enter the UK market in 2022 by acquiring Ziglu Limited, but the deal collapsed
• ▪Robinhood's UK arm was added to the Financial Conduct Authority's (FCA) list of registered cryptoasset companies on July 31
• ▪The FCA estimates the new regulations could add 3 to 4 million customers to UK crypto markets by boosting confidence

Anti-money laundering compliance

• ▪The UK's current crypto registration regime, in effect since 2020, primarily focuses on anti-money laundering measures
• ▪The FCA registration confirms Robinhood meets the regulator's anti-money laundering (AML) requirements
• ▪The FCA's registry of approved crypto firms includes over 50 companies, such as Ripple, Kraken, BlackRock, and PayPal

UK crypto licensing regime

• ▪The new, full crypto regulatory regime in the UK is scheduled to come into force in October 2027
• ▪The application window for the new UK crypto regime runs from September 2026 to February 28, 2027
• ▪A more comprehensive crypto regulation framework is being introduced in the UK, with new rules for capital, market abuse, and stablecoins