The regulatory landscape in the UK is changing and these changes affect cryptoassets holders. In order to be compliant some cryptoasset holders may need to be registered with the Financial Conduct Authority (FCA). Please read this simple flowchart to find out if you need to be registered.
Some factors we will consider:
See our registration timelines:
Existing cryptoasset businesses which were carrying on cryptoasset activity immediately before January, 10 2020 may continue with that business, but must still comply with the MLRs. But they must be registered before January 10, 2021 or stop all cryptoasset activity. To ensure that we can work with you to meet this deadline, we strongly encourage you to apply as soon as possible and no later than June 30, 2020.
New cryptoasset businesses that intend to carry on cryptoasset activity after January 10, 2020, must be registered before carrying out any activity.
But we may ask you to explain why you think your activities are not in scope. You must consider the specifics of your business and decide whether registration is required. If you are uncertain, you may wish to seek legal advice.
For more details on regulation of UK cryptoasset businesses please go to the FCA’s main crypto regulation page.