The FCA revealed that since 2020 it has received 291 applications for registration and approved only 38 of them.
“Firms are required to provide the minimum information set out under regulation 57 of the MLRs, any firm that has not provided the required information will have their application rejected.”
In the U.K., firms permitted to “carry out crypto asset activities” must either be registered with the FCA or have been granted temporary operating status. Previously, the FCAto halt its operations in the country and issued “shut down or face further action“ orders for local crypto ATM operators. At the time of publication, the FCA’s list of registered crypto asset providers includes 42 entities, such as Skrill, eToro and Gemini.
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