UK regulator announces ‘temporary registration regime,’ extends operating deadline to July 9 for existing crypto businesses
The U.K.’s Financial Conduct Authority (FCA) has just announced a “temporary registration regime” for existing crypto businesses.
The new regime lets crypto firms that have applied for registration to continue operating until July 9, 2021. The previous deadline was January 10 of that year.
“The Temporary Registration Regime is for existing cryptoasset businesses which have applied for registration before 16 December 2020, and whose applications are still being assessed,” said the FCA. “This is to enable those existing businesses to continue to trade after 9 January 2021 until 9 July 2021, pending the FCA’s determination of their application.”
The regulator said it is extending the deadline as it could not assess and register all firms that have applied for registration “due to the complexity and standard of the applications received, and the pandemic restricting the FCA’s ability to visit firms as planned.”
This is a breaking story and will be updated
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Author: Yogita Khatri
