FCA reminds cryptoasset businesses to register

Released 22 June 2020

The Financial Conduct Authority (FCA) is reminding businesses which carry out cryptoasset activity in the UK that they have to be registered with the FCA to comply with new regulations.

To ensure that applications are processed on time the FCA requires firms to submit completed applications for registration by 30 June 2020.

The FCA became the anti-money laundering and counter terrorist financing (AML/CTF) supervisor of businesses carrying out certain cryptoasset activities in the UK on 10 January 2020. Any businesses that started carrying on business in the UK immediately before 10 January 2020 and are not registered by the FCA by the 10 January 2021 deadline will have to cease carrying on business.

Any new businesses which began operating after 10 January 2020 must be registered with the FCA before carrying out any business.

Further information can be found at https://www.fca.org.uk/news/press-releases/fca-reminds-cryptoasset-businesses-register-end-june.

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