Crypto payments app moonpay is now registered in the U.K., showing compliance with TheFCA's money laundering rules. jackschickler reports.
Cryptocurrency payments app MoonPay secured registration with the U.K.'s Financial Conduct Authority , signifying compliance with local money laundering rules.
The company, which provides a programming interface that deals with procedures to identify customers and fight fraud, appears on theIt joins the likes of crypto exchange Bitpanda, financial technology company Revolut and financial infrastructure provider Tullett Prebon in gaining a status that has seen many crypto companies fall by the wayside.
"73% of applications have either been withdrawn or have failed," Sarah Pritchard, the FCA's executive director for markets, told lawmakers on the House of Commons Treasury Committee."That is the most significant withdrawal or failure rate that we've had when taking on a new remit such as this." The FCA currently has limited jurisdiction over the crypto industry, but is expecting to be handed new powers when lawmakers enact the Financial Services and Markets Bill.
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