The UK’s Financial Conduct Authority (FCA) released a notice in 2019, condemning all crypto businesses to comply with their AML/CFT rules by 9 January 2021 and acquire their licenses.
However, by December 2020, this deadline was still far from being met. Therefore, the FCA established a Temporary Registration Regime (TRR) so that crypto-asset firms who have already applied to obtain their licenses can continue trading. They also extended the final deadline for compliance to 1 April 2022.
Since the announcement, many from the FCA’s list of unregistered cryptoasset businesses have shut down. While some did not pay any attention to the regulatory call, some applied and got rejected. Many firms who tried have publicly voiced their distress with FCA’s extreme measurements and withdrew their applications. A CEO of a crypto firm who opted to relocate said:
“We decided some time ago to say ‘screw them”
In the end, only 33 firms were able to finalize their registrations among hu
We współpracy z: https://cryptoslate.com/fca-angers-lawmakers-by-extending-crypto-compliance-deadlines/
