FCA takes over crypto asset supervision
UK firms must register with regulator to comply with anti-money laundering rules
UK-based companies dealing in crypto assets are now regulated by the Financial Conduct Authority, and must comply with anti-money laundering and counter-terrorist financing (AML/CFT) rules.
An amendment to the UK’s AML/CFT laws brought crypto assets under the FCA’s oversight on January 10. It is the culmination of several years of analysis and consultation.
Companies offering services such as crypto asset exchanges, initial coin offerings, and custodian wallets for crypto assets must now
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