Five crypto companies were allowed to operate with temporary registration in the UK

In total, the UK’s financial regulator has granted a license to operate with digital assets to 33 organizations

11.04.2022 - 13:20

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What’s new? The UK’s Financial Conduct Authority (FCA) has allowed five crypto companies to continue operating in the country with temporary registration. The list includes CEX.IO, Copper Technologies (UK), GlobalBlock, Revolut, and Moneybrain. Their FCA registration deadline expired last week, but applications are still pending.

Information on Bitcoin.com

What does the FCA say? In total, the financial regulator has granted a license to operate with cryptocurrencies to 33 companies. An FCA spokesperson noted:

“We have been reviewing crypto asset firms’ applications to ensure they meet the minimum standards we expect that those who run these firms are fit and proper and that they have adequate systems to identify and prevent flows of money from crime.”

What had happened before? On March 31, the FCA canceled temporary registration for cryptocurrency platforms. Operating without a permit is criminally liable.

On April 4, Rishi Sunak, head of the UK Treasury, unveiled a plan to turn the state into a global hub for cryptocurrency technology. The department’s press release states that with the appropriate regulation, stablecoins will be recognized as a valid form of payment. And in the summer, the Royal Mint can create and issue its own NFT.

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