Cryptoasset AML/CTF Regime: Feedback on Applications - Quality Insights
Summary of Development
The FCA has been the anti-money laundering and counter-terrorist financing (AML/CTF) supervisor of UK cryptoasset businesses since 10 January 2020.
See a summary of the applications for registration that we have received and the outcomes of the applications that have been determined, as of 1 March 2024.
|
|
Last month |
Previous 12 months |
Since Jan 2020 |
|
Applications received |
2 |
26 |
340 |
|
Applications determined |
|
||
|
Registered |
2 |
6 (11%) |
47 (14%) |
|
Rejected |
0 |
7 (13%) |
35 (11%) |
|
Withdrawn |
2 |
40 (73%) |
230 (71%) |
|
Refused |
1 |
2 (3%) |
13 (4%) |
|
Total |
5 |
55 |
325 |
We have rejected submissions that didn’t include key components necessary for us to carry out an assessment, or the poor quality of key components meant the submission was invalid.
The table does not include information on any appeals following our decisions to refuse applications.
Links: https://www.fca.org.uk/firms/cryptoassets-aml-ctf-regime/feedback-good-poor-applications#revisions