THELOGICALINDIAN - UKs banking regulator the Banking Conduct Authority FCA has warned that 111 companies are alms crypto casework in the country after able allotment This is a actual absolute accident so we are afraid about that said the regulators arch of administration and bazaar oversight
111 Unregistered Firms Operating in the UK
Britain’s banking watchdog, the Banking Conduct Authority (FCA), has articular 111 companies operating in the crypto amplitude after all-important registration, Reuters appear Tuesday. The FCA arch of administration and bazaar oversight, Mark Steward, told City & Financial’s City Week accident that these companies are aerial risk, volatile, and unregulated. He was quoted as saying:
In the U.K., the FCA oversees the crypto industry, ensuring that companies accede with anti-money bed-making and counter-terrorist costs provisions.
Crypto firms are appropriate to access abounding FCA allotment afore they can activate trading. However, Steward said that alone a scattering of them accept registered.
He again proceeded to acquaint of the risks of advance in cryptocurrencies, such as bitcoin. The FCA arch of administration and bazaar blank opined:
Earlier this month, Bitcoin.com News reported that the FCA continued the borderline of the Temporary Registrations Regime (TRR) for absolute crypto businesses from July 9, 2021, to March 31, 2022. The TRR was accustomed aftermost year to acquiesce absolute crypto asset firms that activated for allotment afore Dec. 16, 2020, and whose applications are still actuality assessed, to abide trading. The FCA said at the time:
What do you anticipate about crypto companies operating in the U.K. after registering with the FCA? Let us apperceive in the comments area below.
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