# Cryptoasset Business Registration (MLRs 2017) (United Kingdom)

Source page: https://protegra.io/licensing/licences/vasp/united-kingdom/

The Cryptoasset Business Registration (MLRs 2017) is issued by Financial Conduct Authority (FCA) under The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (SI 2026/102). The legal decision period is 3 months from receipt of a complete application under Regulation 59(3A) of the Money Laundering Regulations 2017. The application fee is GBP 11,260 (Pricing Category 6 for MLRs cryptoasset registration). Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Cryptoasset Business Registration (MLRs 2017) [1] |
| --- | --- |
| Issued by | [Financial Conduct Authority](https://protegra.io/licensing/regulators/fca-uk/) |
| Jurisdiction | [United Kingdom](https://protegra.io/licensing/jurisdictions/united-kingdom/) |
| Licence family | [Virtual asset service provider (non-MiCA)](https://protegra.io/licensing/licences/vasp/) |
| Legal basis | The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (SI 2026/102) [2] |
| Passporting | Domestic only |
| Application fee | GBP 11,260 (Pricing Category 6 for MLRs cryptoasset registration) [1] |
| Annual fee | Periodic supervisory fee under Fee-block G (firms registered under MLRs 2017) based on cryptoasset revenue [3] |
| Statutory decision time | 3 months from receipt of a complete application under Regulation 59(3A) of the Money Laundering Regulations 2017 [4] |

## What it lets you do

- [Virtual asset exchange (FATF)](https://protegra.io/licensing/activities/vasp-exchange/)
- [Virtual asset transfer (FATF)](https://protegra.io/licensing/activities/vasp-transfer/)
- [Virtual asset safekeeping (FATF)](https://protegra.io/licensing/activities/vasp-custody/)

- **Virtual asset exchange (FATF).** Exchanging virtual assets for fiat currency or for other virtual assets as a business, as defined in the FATF glossary.
- **Virtual asset transfer (FATF).** Conducting transactions that move virtual assets between addresses or accounts on behalf of another person.
- **Virtual asset safekeeping (FATF).** Safekeeping or administering virtual assets, or instruments enabling control over them, for another person.

## Where it is valid

_Valid in United Kingdom._

## Cost

_Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model._

## How long it takes

Statutory: 3 months from receipt of a complete application under Regulation 59(3A) of the Money Laundering Regulations 2017 [4]. Observed: Median elapsed determination time of 236 calendar days (Lower Quartile: 172 days, Upper Quartile: 302 days) across 7 cases closed in Q4 2025/26 (A1.3 5MLD registrations) [5]. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.

## Buying a company that already holds it

**Prior approval required.** Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested. [6]

Ready-made companies holding this licence: [see verified positions](https://protegra.io/companies/crypto-digital-assets/).

## Sources

1. [fca.org.uk: fees](https://www.fca.org.uk/firms/authorisation/how-to-apply/fees): retrieved 2026-09-24
2. [legislation.gov.uk: made](https://www.legislation.gov.uk/uksi/2026/102/contents/made): retrieved 2026-09-24
3. [fca.org.uk: how we calculate annual fees](https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees): retrieved 2026-09-24
4. [legislation.gov.uk: contents](https://www.legislation.gov.uk/uksi/2017/692/contents): retrieved 2026-09-24
5. [fca.org.uk: fca authorisations operating service metrics 2025 26 q4](https://www.fca.org.uk/data/fca-authorisations-operating-service-metrics-2025-26-q4): retrieved 2026-09-24
6. [fca.org.uk: control thresholds bands](https://www.fca.org.uk/firms/change-control/control-thresholds-bands): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.