The Financial Conduct Authority, Britain's financial regulator, has extended the temporary registration status of some companies providing cryptocurrency services beyond the March 31 deadline .
In a statement issued last Tuesday, the Financial Conduct Authority (FCA) said that a small number of companies in the crypto space will continue to obtain temporary registration status in the kingdom. United States where absolutely necessary, Coin Telegraph reported.
The financial regulator has reiterated that the temporary exemption of crypto firms from the previously announced March 31 deadline does not mean that the Financial Conduct Authority (FCA) has valued them. as appropriate but includes situations in which the Company may be seeking to appeal or is still under consideration to pursue operations.
The FCA said that only companies that are registered with us or listed on our temporary list of companies can continue to trade. The other companies must have ceased trading as of January 10, 2021. Firms that have not stopped trading are at risk of being subject to the criminal and civil enforcement powers of the Financial Conduct Authority (FCA).
The FCA has approved registrations from 33 cryptocurrency firms since August 2020, in accordance with UK laws covering anti-money laundering, countering terrorist financing and handling money transfers. .
In addition, the financial regulator granted temporary registration status to several companies until March 31, at which time the FCA was expected to reach a decision on the issue. The validity of her requests.
As of March 25, there are 12 companies allowed to carry out crypto-asset activities under this FCA temporary status, including Six.io and Revolt. and Cooper.
The FSA has not set a new deadline for approving or rejecting the company's registration, but it previously extended the review period from July 2021 to March 2022.
