TechFlow news, the UK regulator FCA revealed that it has handled over 1,400 cryptocurrency cases between January 2020 and June 2023. The regulator noted, "a shortage of crypto expertise has meant that the FCA’s registration of crypto asset firms under anti-money laundering regulations has taken longer than planned."
The FCA began regulating cryptocurrency firms under anti-money laundering regulations in January 2020. Any company wishing to exchange fiat currency for cryptocurrency (and vice versa) or safeguard crypto assets in the UK must register and be supervised by the FCA. Existing businesses were required to register by January 2021, while new entrants must register before commencing operations.
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