FCA extends Temporary Registration Regime for cryptoasset businesses
The FCA is extending the end date of the Temporary Registrations Regime for cryptoasset businesses to 31 March 2022.
The FCA is extending the end date of the Temporary Registrations Regime for cryptoasset businesses to 31 March 2022.
Virtual asset service providers are now required to register with the Central Bank of Ireland for AML/CFT purposes.
Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
The FCA has granted Revolut a temporary crypto registration, which is valid until July 9, 2021.
Austrian FMA received 40 applications for registration from virtual asset businesses in the first year of stricter AML regulations.
The FCA has established a Temporary Registration Regime to allow existing cryptoasset firms to continue trading.
CySEC tells firms that trade in crypto assets to ensure that all risks associated with this product are duly taken into consideration.
Businesses engaged in the provision of digital asset custody services for third parties have until December 18, 2020 to register.
All member countries are encouraged to establish clear regulatory frameworks and processes to support AML/CFT supervision of Virtual Asset Service Providers.
The FCA believes a minimum fee of £2,000 for cryptoasset businesses would be more realistic.