Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
The U.K.'s Financial Conduct Authority (FCA) has rejected or had withdrawn 87% of crypto registration applications for the fiscal year ending March 31, 2024, according to the FCA 2024 annual report. Out of 35 applications, only four were approved. The primary reason for these rejections was the failure to meet anti-money laundering (AML) and know-your-customer (KYC) standards. The FCA's stringent requirements aim to ensure that crypto firms adhere to robust financial regulations to prevent illicit activities.
The DeFi Defender: Edition 201: UK Regulator Rejects Vast Majority of Crypto Registrations Due to “Weak” AML/KYC Concerns Once again, the biggest regulatory hurdle for crypto start-ups is a lack of rubost AML/KYC procedures. The UK's Financial Conduct Authority (FCA) has set an… https://t.co/L539Rb6J3x
JUST IN: NEARLY 90% OF CRYPTO FIRMS SEEKING REGISTRATION IN THE UK FAILED TO MEET FCA STANDARDS IN THE PAST 12 MONTHS, ACCORDING TO THE FCA 2024 ANNUAL REPORT
Almost 90% of UK crypto firms have had their applications rejected by the Financial Conduct Authority for one key reason, according to a new report. Firms must register with @TheFCA if they want to offer services like crypto trading or providing wallets. The financial markets…
