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Nearly 9 in 10 Crypto Registration Applications Failed UK AML Standards: FCA
Amid growing regulatory scrutiny, the UK's Financial Conduct Authority (FCA) rejected over 87% of cryptocurrency registration applications in its latest review, according to the regulator's latest update. The high rejection rate highlights the challenges crypto firms face in meeting the UK's stringent anti-money laundering (AML) requirements, which has forced some companies to leave the country. In the fiscal year ending March 31, the FCA reviewed 35 applications from crypto companies seeking approval under the UK's AML framework. Only four managed to clear the hurdle. The FCA named successful registrants, including ... (full story)
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- Posted: Sep 5, 2024 6:23pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 99
