The Financial Conduct Authority has largely been silent while its U.S. counterparts have been busy cracking down on crypto – but it has a list of 51 unregistered firms to act on.
CoinDesk reporter Camomile Shumba provides an in-depth look at the state and future of crypto regulation in the U.K. [reward]ae391df1-46dc-48b0-a050-50260146add1[/reward]
Firms that tried, and failed, to register with the Financial Conduct Authority cite delays and poor feedback. The regulator says it rejected applications for failing to meet requirements.
The industry has largely welcomed proposals that could cover crypto lending and NFTs, and force foreign companies to register and set up in the country.
A number of those investigations into financial crime or "direct links to organized crime" are ongoing, an official at the Financial Conduct Authority said.