Business

UK fintechs have eight more months to curb crypto money laundering

14 days ago   |   By Business Insider

Summary List Placement The Financial Conduct Authority extended the Temporary Registrations Regime from July 9, 2021, to March 31, 2022, per its press release. The regime lets fintechs that offer crypto services operate while the FCA assesses whether they meet national anti-money laundering standards and can be fully registered or must be shut down.
Most fintechs operating in the country are struggling to meet crypto AML requirements, which could erode consumer trust. Just five exchanges have been fully registered since the FCA launched the process in January 2020. Dozens are still only...
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