The UK’s Financial Conduct Authority (FCA), which had previously reported that all blockchain companies must register in a special registry by early April and obtain a license that gives them the right to continue operating in the country, has decided to meet the business halfway and shifted the registration deadlines.
The watchdog has said in a statement that after March 31, a limited number of companies that need to have temporary registration will continue to operate. For instance, the Blockchain.com team will be able to continue its activities in this mode.
As of March 30, more than a hundred crypto companies have submitted registration applications to the FCA. Since the beginning of 2020, the agency has received powers to combat the legalization of criminal proceeds.
To date, just 33 applications have received the approval from the regulator, whereas more than 60 were either rejected or the companies themselves withdrew their applications.