Britain’s top financial regulatory authority (FCA) Financial Conduct Authority, has permitted five well-known cryptocurrency firms to carry on their services within the UK even with temporary registration certification permission. The given deadline for cryptocurrency firms to get registered with the FCA is over but according to some top officials, these five crypto firms’ applications are still in the review process and even pending.
Britain Five Cryptocurrency service providers Can Continue to Operate their business in the UK With a Temporary Registration certificate.
The financial regulatory authority (FCA) has already officially registered 33 crypto firms at once. “Officials are reviewing cryptocurrency firms’ registration applications to make sure they are capable and meet the minimum requirements which
Great Britain and its departments expect that those who are running these crypto firms are trustworthy, fit and have proper business esthetics and the most adequate system to keep a sharp eye on the system that can immediately scan and figure out the illegal and unauthorized flow of money from criminal activities to anywhere within the United Kingdome ” a spokesperson for the FCA recently stated.
Previously the U.K. government officials disclosed a comprehensive plan to make the United Kingdom a central place and a hub for crypto and digital currencies where people feel much more hospitable and comfortable than else anywhere else on the planet.
“It’s my passion and ambition to make the United Kingdome a global pivotal hub for crypto-asset technology, and the measures we have figured out so far and today will certainly help to ensure crypto firms can freely invest, innovate, and scale up its business activities in the UK”
What do you folks say about the FCA's lenient attitude towards extending the registration deadline for five cryptocurrency firms in the UK? Let us know about your opinion in the comments section below.