Cryptocurrency Traders Fall Short Of AML Rules, FCA Warns

Law360, London (June 3, 2021, 10:31 AM BST) — The Financial Conduct Authority said on Thursday that a “significantly high” number of cryptocurrency trading companies are failing to meet the U.K.’s anti-money laundering standards and are having to withdraw their applications to be registered with the watchdog.

The FCA has said it is extending the end date of a temporary registration regime for companies that deal in crypto-assets such as Bitcoin or Ether. (iStock) The City regulator said it is extending the final date of a temporary registration regime from July 9 to the end of March 2022 for the sector, which allows consumers to buy, sell and trade in cryptocurrencies…


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.