UK Financial Regulator Approves Only 13% of Cryptocurrency Company Registrations

2023/08/15 01:20

The Financial Conduct Authority (FCA) in the UK has disclosed that it has approved only 13% of the total applications by cryptocurrency companies for registration. Out of 291 applications since January 2020, only 38 have successfully completed the new registration process. The FCA revealed these statistics in response to a right-to-know request, highlighting that many firms voluntarily withdrew their filings due to non-compliance with the required regulations.

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