British FCA Extends Temporary Registration Till March 2022

Reading Time: < 1 minute

The UK’s Financial Conduct Authority (FCA), the country’s financial regulator, has just announced an extension of the current temporary registration for crypto businesses that allows them to operate in the country while they await regulatory approval.

As a result, all companies that have applied for a license can continue their operations under this temporary framework until March 31, 2022.

The framework was created last year to allow existing crypto companies that applied for registration before December 16, 2020, continue to offer their services while their application is reviewed.

The regulator claims it is taking some time to register crypto businesses because it wants to make sure they comply with anti-money laundering and anti-terrorism laws.