The latest policy from the UK's FCA has arrived. According to the announcement, crypto asset service providers must obtain full authorization before the new regulations officially take effect in October 2027. How will this proceed? The application window is set to open in September 2026, meaning companies have less than a year and a half to prepare. For institutions already registered under anti-money laundering regulations, this essentially means going through the approval process again. Even more frustrating, companies that miss the deadline will be placed under transitional management, which means they can only continue operating their existing product lines, while all new products and services are prohibited from launching. This policy adjustment has a significant impact on the entire European crypto ecosystem.