British watchdog, the FCA has established a Temporary Registration Regime to allow existing cryptoasset firms, who have applied to be registered with the FCA, to continue trading.
December 16, 2020 | AtoZ Markets – Cryptoasset firms in the UK who have not yet registered with the FCA will have to return customer money and cease trading by January 10, 2021, the Financial Conduct Authority (FCA) has warned today.
FCA establishes temporary registration regime for cryptoasset firms due to backlog
“Firms that did not submit an application by 15 December 2020 will not be eligible for the temporary registration regime,” states the FCA. “They will need to return cryptoassets to customers and stop trading by 10 January 2021. Firms that do not stop trading by that date are at risk of being subject to the FCA’s criminal and civil enforcement powers.”