UK’s Financial Conduct Authority temporarily extends authorization for some crypto trading companies to keep operating beyond March 31st.
The Financial Conduct Authority, the United Kingdom’s financial regulator, has extended the temporary registration status of some firms offering crypto services beyond its Friday deadline.“a small number of firms” in the crypto space will continue to have temporary registration status in the United Kingdom “where it is strictly necessary.
“Only firms that are registered with us or on our list of firms with temporary registration can continue trading,” said the FCA. “Other firms must have ceased trading from 10 January 2021. Firms that have not ceased trading are at risk of being subject to the FCA’s criminal and civil enforcement powers.”registrations from 33 crypto companies since August 2020 in compliance with the U.K. laws covering Anti-Money Laundering, Combating the Financing of Terrorism and handling transfers of funds.
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