{"id":8941,"date":"2021-06-30T02:54:28","date_gmt":"2021-06-30T02:54:28","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/64-cryptocurrency-firms-have-withdrawn-applications-to-operate-in-uk-fca-says\/"},"modified":"2021-06-30T02:54:28","modified_gmt":"2021-06-30T02:54:28","slug":"64-cryptocurrency-firms-have-withdrawn-applications-to-operate-in-uk-fca-says","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/64-cryptocurrency-firms-have-withdrawn-applications-to-operate-in-uk-fca-says\/","title":{"rendered":"64 Cryptocurrency Firms Have Withdrawn Applications to Operate in UK, FCA Says"},"content":{"rendered":"<p><strong>A growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications and will not be able to operate in the U.K.<\/strong><\/p>\n<p>The list of cryptocurrency companies abandoning their attempts to register with the U.K.\u2019s financial regulator is growing, Reuters reported Monday.<br \/>\nUnder the current crypto regulation, the Financial Conduct Authority (FCA) is responsible for ensuring crypto companies\u2019 compliance with laws on the prevention of money laundering and terrorist financing.<br \/>\nCompanies wanting to provide crypto-related services in the U.K. must register with the FCA before conducting business.<br \/>\nAn FCA spokesperson said Monday that registration data shows the number of companies that have ditched their applications jumped by 25% in less than a month.<br \/>\nAround 64 companies have withdrawn their applications, the spokesperson said, up from 51 in early June.<\/p>\n<p><!-- growjs zone placement 31 -->   <!-- end of growjs zone placement --> <\/p>\n<p>Only six firms have successfully registered with the FCA so far, the publication conveyed, adding that dozens more companies are being assessed but they are not yet deemed \u201cfit and proper.\u201d<br \/>\nThe FCA issued a <a href=\"https:\/\/news.bitcoin.com\/regulators-uk-japan-warnings-binance-crackdown-unauthorized-crypto-exchanges\/\">consumer notice<\/a> on Binance Friday, banning the exchange from engaging in \u201cregulated activities\u201d in the U.K.<\/p>\n<p><em><strong>What do you think about crypto firms exiting the U.K. due to regulation? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, british crypto regulation, crypto exchanges, crypto firms, crypto licenses, FCA, fca crypto regulation, uk crypto regulation<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications and will not be able to operate in the U.K. The list of cryptocurrency companies abandoning their attempts to register with the U.K.\u2019s financial regulator is&hellip;<\/p>\n","protected":false},"author":0,"featured_media":8942,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8941"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8941"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8942"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}