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2021-06-03

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Cryptocurrency firms not meeting anti-money laundering rules, UK regulator says

LONDON, June 3 (Reuters) - Many cryptocurrency firms are not meeting Britain's anti-money laundering

Cryptocurrency firms not meeting anti-money laundering rules, UK regulator says

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The extension will allow crypto firms to carry on their business while the regulator conducts further checks, it said in a statement.</p>\n<p>The cryptocurrency sector has been plagued through its 12-year life by lax standards on money laundering and other illicit activities.</p>\n<p>While standards are widely seen to have improved, global regulators and policymakers have in recent months voiced concerns over the illicit use of crypto.</p>\n<p>Since January, cryptocurrency-related firms have had to comply with UK laws on anti-money laundering and counter-terrorist financing.</p>\n<p>\"The FCA will only register firms where it is confident that processes are in place to identify and prevent this activity,\" it said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140440929","content_text":"LONDON, June 3 (Reuters) - Many cryptocurrency firms are not meeting Britain's anti-money laundering and financing rules and, as a result, unprecedented numbers of them have withdrawn applications to register with the country's financial watchdog, it said on Thursday.\nThe Financial Conduct Authority $(FCA)$ said it would extend the date of its temporary registrations regime from July 9 to the end of March 2022. 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