UK FCA Issues Crypto Business Registration Guidance, Prepares for September Application Window

The UK Financial Conduct Authority (FCA) has released final guidance on cryptocurrency business registration. The guidance details the regulator's specific requirements on anti-money laundering (AML) and counter-terrorist financing (CFT), aiming to guide relevant firms in making full preparations for the upcoming September application window.

According to the FCA's published framework, new applicants must not only establish robust anti-money laundering systems before submitting registration applications but also meet prescribed technical operational standards and personnel management capabilities. As the UK tightens its overall oversight of crypto asset service providers, firms that fail to complete registration within the set timeline or do not meet the compliance benchmarks outlined in the guidance will lose eligibility to conduct lawful business in the UK.

[TechFlow]