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The UK’s Financial Conduct Authority (FCA) has published a research report that reveals crypto asset ownership has increased a great deal. According to the study, crypto ownership spiked more than 27% since last year as the FCA’s estimates show 2.3 million adults hold digital currencies, up from 1.9 million in 2020. United Kingdom’s Regulator Publishes […]Powered by WPeMatico
The inability to satisfy Anti-Money Laundering standards set by regulators in the United Kingdom is reportedly forcing many crypto companies out of business.
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Many companies operating with cryptocurrencies are not meeting anti-money laundering regulations, the U.K.’s Financial Conduct Authority revealed. The government agency has extended its temporary registration scheme after facing a growing number of crypto firms that are withdrawing their applications. FCA Extends Temporary Registrations Regime Till End of March 2022 The Financial Conduct Authority (FCA) announced […]Powered by WPeMatico
The Temporary Registrations Regime’s end date for crypto companies has been pushed to March 2022.
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The firm said clearing the regulatory hurdle had the potential to drive more institutional investors towards crypto custody solutions.
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Financial crimes reporting obligations are irrespective of a crypto firm’s total annual revenue.
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The U.K.’s Financial Conduct Authority is accused of ignoring its own consultation and cherry-picking data.
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The FCA covered everything it could with the ban, CoinShares’ Townsend Lansing says.
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CoinShares’ pleas last year went unheard as crypto futures and ETNs will be soon banned.
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ePayments is preparing to relaunch but there will be no crypto or peer-to-peer payments.
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