UK Treasury Committee: 85% of crypto firms do not meet minimum standards
Around 85% of crypto firms who applied to the FCA were unable to demonstrate they met the minimum standards.
Around 85% of crypto firms who applied to the FCA were unable to demonstrate they met the minimum standards.
The Treasury Committee will hold the first session of its inquiry into the crypto-asset industry at 3.15pm on Monday 14 November.
The UK FCA has opened 432 cases against potential unregistered or scam crypto businesses in 2021/22.
The inquiry will focus on a range of key areas including the UK’s current approach to regulation of crypto and digital assets.
Standard Chartered-backed Zodia Markets receives FCA crypto registration and launches institutional exchange and brokerage in the UK.
The UK will also proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT) in UK financial markets.