FCA warns crypto consumers as temporary registration regime established

Unregistered UK cryptoasset firms may cease trading

Pedro Gonçalves
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The FCA does not have consumer protection powers for the cryptoasset activities of firms
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The FCA does not have consumer protection powers for the cryptoasset activities of firms

The Financial Conduct Authority (FCA) has urged customers of cryptoasset firms which have failed to apply to the financial watchdog for registration to withdraw their investments before 10 January 2021.

The FCA took on supervisory responsibility for anti-money laundering in January last year and required existing crypto businesses to register with it by 15 December this year in order to enforce compliance. From 'speculative bubble' to 'strengthening brand': Waverton performs volte-face on Bitcoin It said it has not been able to assess and register all firms that have applied for registration, due to the complexity and standard of the applications received, and the pandemic restrictions on office visits. The financial watchdog has therefore established a temporary registration regi...

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