Buying Crypto in the UK: What the FCA Register Does and Does Not Tell You
Before you can deposit anywhere you need coins, and in Britain that means going through a firm registered with the Financial Conduct Authority. Almost every crypto casino guide publishes a list of “FCA-approved exchanges”. Most of those lists are wrong, and the way they are wrong tells you something useful about how little checking goes into them.
We read the register entry by entry on 21 August 2026 and recorded the firm reference numbers so you can check them yourself.
Firms we confirmed on the register
Your first deposit is worth 150% more
Vave adds 150% up to 1.5 BTC and 100 free spins to the first crypto deposit, then 100%, 50% and 25% on the next three.
Open your account| Firm | UK legal entity | FRN | Registration | Since |
|---|---|---|---|---|
| Kraken | PAYWARD LTD. | 928768 | Cryptoasset (MLR) | 23/11/2021 |
| Coinbase | CB Payments Ltd | 900635 | E-money since 2018, cryptoasset MLR added | 03/02/2025 |
| Bitstamp | Bitstamp UK Limited | 978690 | Cryptoasset (MLR) | 13/06/2023 |
| Revolut | Revolut Ltd | 900562 | E-money since 2018, cryptoasset MLR added | 26/09/2022 |
| Blockchain.com | BC Operations Limited | 1036678 | Cryptoasset (MLR) | 10/02/2026 |
| Gemini | GEMINI INTERGALACTIC UK, LTD | 921817 | Cryptoasset (MLR) — but see below | 19/08/2020 |
Firms we did not check in this pass, and about which we therefore say nothing either way: eToro, Crypto.com, Uphold, Bitpanda, Archax, PayPal UK.
Three corrections to the lists you will find elsewhere
A live register entry does not mean the firm still serves you
Gemini’s UK entity is still listed as “Registered”, with a date going back to 2020 — and Gemini announced in February 2026 that it was ceasing UK operations. The register records anti-money-laundering registration status, not commercial availability. Check both.
CoinCorner is not on the cryptoasset register
It appears in a great many UK crypto casino guides as an FCA-registered option. What the register actually shows is CoinCorner Ltd, FRN 903018, an Isle of Man firm, with the type “EMD Agent — Former” and this statement: the firm “is no longer registered with the FCA as an E-money agent of a regulated firm, and can no longer issue electronic money or provide payment services.” That is a lapsed e-money permission, not a cryptoasset registration, and the Isle of Man sits outside the UK regime.
The register also lists clones with near-identical names
Searching “Coinbase” returns three Unauthorised entities alongside the real one — Coinbaseie, coinbasetradefx and ULTRA-COINBASE LTD. Searching “Blockchain.com” surfaces Vergo Block Chain, also unauthorised. Match the firm reference number, never the name.
What registration actually protects — and what it does not
Quoted from the register entry itself: “you will not be able to complain about this firm to the Financial Ombudsman Service and you will not be able to make a claim to the Financial Services Compensation Scheme if this firm goes out of business owing you money.” And the FCA’s general note on cryptoasset entries: the register “will only tell you if a firm is registered for the purpose of compliance with the UK Money Laundering Regulations.”
In plain terms: registration is an anti-money-laundering check, not a consumer-protection guarantee. It confirms the firm has adequate AML controls. It does not say your money is safe, and it expressly does not give you Ombudsman or FSCS recourse for the crypto itself.
The regime changes in October 2027
Today’s register is a snapshot of a system being replaced. The FCA’s own timetable:
| Date | What happens |
|---|---|
| 30 September 2026 | FSMA authorisation gateway opens; the FCA encourages firms to seek full authorisation rather than MLR registration |
| 28 February 2027 | Application period closes |
| 31 July 2027 | After this, applications are unlikely to be determined before the new regime starts |
| 25 October 2027 | The new FSMA cryptoasset regime is expected to come into force |
Firms that are MLR-registered today will need FSMA authorisation to keep operating, and current registration does not guarantee they get it. Any page claiming to list “the FCA-approved exchanges” needs a review date on it.
What buying crypto in the UK actually feels like
Since 8 October 2023, cryptoassets have been classified as Restricted Mass Market Investments. A British person buying for the first time hits, in order:
- A mandatory risk warning, in prescribed wording: “Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong.”
- Client categorisation — you declare yourself restricted, high-net-worth or sophisticated.
- An appropriateness assessment — a short quiz on whether you understand the risk. You can fail it.
- A personalised risk warning.
- A 24-hour cooling-off period — and here is the detail most sites get wrong: it applies once per firm, to first-time investors. It is not a 24-hour delay on every purchase you ever make.
- No incentives. Refer-a-friend schemes and new-customer bonuses on crypto purchases are banned outright. That is why UK crypto sign-ups look bare next to what you see advertised abroad.
One related change worth a sentence: on 8 October 2025 the FCA lifted its ban on retail access to crypto exchange-traded notes, provided they trade on a recognised UK exchange. Those are not FSCS-covered, and the ban on retail crypto derivatives stands. It signals direction of travel; it does nothing for a player who wants actual coins.
HMRC now receives the data automatically
From 1 January 2026 the Cryptoasset Reporting Framework requires UK cryptoasset providers to collect and report user identity, tax residency and transaction data to HMRC, with the first reports due by 31 May 2027 and information exchanged with other participating jurisdictions. Providers face penalties of up to £300 per user for inaccurate reports, which is a strong incentive for them to be thorough about you.
Gambling winnings remain untaxed. Disposals of the coins around them do not. We go through that in full on our page about crypto gambling and UK law. None of this is tax advice.
Frequently asked questions
Is it legal to buy crypto in the UK?
Yes. Buying, holding and selling cryptoassets is legal. What is regulated is how firms may promote them, and — from October 2027 — how they must be authorised to operate.
Does FCA registration mean my money is protected?
No, and the register says so itself. Registration is an anti-money-laundering check. You cannot complain to the Financial Ombudsman about the crypto activity and you cannot claim from the FSCS if the firm fails owing you money.
Which exchange should I use?
We are not going to rank them, because we have not tested their withdrawal behaviour. What we will say is: match the firm reference number on register.fca.org.uk rather than trusting a name, check the firm still serves UK customers, and be aware the register itself is being replaced in October 2027.
Written by James Whitlock, Editor-in-Chief. Register entries read on 21 August 2026. Coin-by-coin detail: USDT, Ethereum, Litecoin, Dogecoin, XRP, Bitcoin.
18+ only. Gambling can be addictive. Never gamble with money you cannot afford to lose. Free, confidential help is available in the UK from the National Gambling Helpline on 0808 80 20 133, 24 hours a day, and you can self-exclude from every British-licensed operator at once through GAMSTOP.