UK to Extend Temporary Registration For a Number of Crypto Companies

The UK Financial Conduct Authority (FCA) announced that from April 1, 2022, the temporary registration regime for crypto companies will cease to operate, but it will be extended for those firms whose applications have not been fully processed.

The UK introduced a temporary registration regime for cryptocurrency companies in December 2020. In June 2021, the program was extended until March 31, 2022.

Under these rules, companies that have not received permanent licenses by April 1 must close their activities in the UK if they do not want to be subject to “criminal and civil enforcement measures” from the FCA.

At the time of writing, the regulator was still considering applications from 12 companies, including Revolut and CEX.io. According to the public registry, the FCA has issued permits to 33 companies, including Gemini, eToro and Galaxy Digital. There are over 100 applicants on the list of “unregistered firms“.

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