Article preview: UK-based cryptocurrency platforms are struggling to comply with new anti-money laundering obligations. According to reports, as many as 50 cryptocurrency platforms could be shut down after failing to meet new rules introduced by the Financial Conduct Authority (FCA). The regulator explained that an “unprecedented number” of businesses had withdrawn their applications from a temporary permit scheme that allowed them to continue trading while the FCA thoroughly assessed their applications.
UK cryptocurrency platforms are failing to meet money laundering standards
This 337-word blog post looks at news from the FCA that crypto currency platforms in the UK are failing to meet their anti-money laundering obligations. Written on 4th June 2021.
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