UK extended registration deadlines for some crypto companies

by in Cryptocurrency News

UK

Since 2020, the UK authorities have begun to tighten control over businesses focused on the crypto market.

The Kingdom’s Financial Conduct Authority (FCA) previously reported that all blockchain companies must register in a special registry by early April and obtain a license that gives them the right to continue operating in the country.

However, this week it became known that the FCA decided to meet the business halfway and shifted the registration deadlines.

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The British regulator said in a statement that after March 31, a limited number of companies that need to have temporary registration will continue to operate. For example, the Blockchain.com team will be able to continue its activities in this mode.

As of March 30, more than a hundred crypto companies have submitted registration applications to the FCA. Since the beginning of 2020, this department has received powers to combat the legalization of criminal proceeds.

To date, only 33 applications have been approved. More than 60 were either rejected or the companies themselves withdrew them. One of these was Wirex, which withdrew its application this week.