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UK Regulator's Temporary Crypto Registration List Drops to 5 Firms

Legal

www.coindesk.com 08 April 2022 14:41, UTC
  
Reading time: ~2 m

Just five crypto companies remain on the Financial Conduct Authority's (FCA) temporary registration (TRR) list, meaning they're still able to trade while their applications are being considered by the U.K. financial services regulator.

  • CEX.I0, Copper Technologies, GlobalBlock, Revolut and Moneybrain, are on the TRR according to an updated document on the FCA website on Thursday.
  • The FCA set up the TRR to allow digital asset companies whose applications for full authorization had yet to be ruled on to continue to operate.
  • Being on the list does not mean the FCA has assessed them as "fit and proper," it said on its website.
  • By March 30 a dozen firms occupied the TRR, and the deadline for most firms to remain on the list was April 1. The FCA extended that deadline for "a small number of firms."
  • "This is necessary where a firm may be pursuing an appeal or may have particular winding-down circumstances," it said at the time.
  • ITI Digital Limited, a crypto asset trading company received approval on Thursday, bringing the total number of full registered crypto firms to 34. That was the first approval since Feb. 25.
  • The regulator said Thursday it would be hiring 80 employees to help crack down on any problem firms across its remit.

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