01 Apr 2021
The UK Financial Conduct Authority (FCA) published a new policy statement Wednesday that includes crypto companies on the list of businesses required to submit a financial crime report.
- Businesses that are required to submit financial crime reporting are referred to by the FCA as “REP-CRIM”, which crypto asset companies are now to be included in.
- Previously, this applied to just 2,500 of the 22,000 firms supervised by the FCA under anti-money-laundering regulations.
- This number will rise to 7,000 with “all cryptoasset exchange providers and custodian wallet providers” included in those added.
By Jamie Crawley, Coindesk, 31 March 2021
Read more at Coindesk
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