More and more Crypto companies in U.K. Attract their application to register with the Financial Conduct Authority (FCA). About 64 companies have attracted their application and will not be able to operate at U.K.
List of Cryptocurrency companies that abandon their efforts to register with financial regulators U.K. growing, Reuters reported Monday.
Under the current Crypto regulation, the authority of the financial behavior (FCA) is responsible for ensuring the compliance of Crypto companies on the law on the prevention of money laundering and terrorist financing.
Companies that want to provide Crypto Related services at U.K. must register with FCA before doing business.
An FCA spokesman said Monday that registration data showed the number of companies that had discarded their applications jumped by 25% in less than a month. About 64 companies have resigned their applications, spokesman said, up from 51 in early June.
Only six companies managed to register with FCA so far, the publications submitted, adding that dozens of more companies are assessed but they have not been considered “suitable and appropriate.”
FCA issues consumer notices on binance Friday, prohibit the exchange of involved in “regulated activities” at U.K.
