Article summary
The Financial Conduct Authority (FCA) has updated its feedback on good and poor quality applications for cryptoasset businesses which it receives under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). The update sets out the latest registration statistics as at 1 December 2023. It also notes that the FCA will take into account all relevant factors when assessing fitness and propriety. This includes, among other things, a firm’s financial promotions and its financial soundness within the context of the MLRs.
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