UK Crypto Companies Now Have to Submit Financial Crime Reports
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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