UK Government gives temprorary license to 5 Crypto Exchanges
1 min read
United Kingdom FCA (Financial Conduct Authority) known as SEC in USA, has give five temporary crypto license to firms to operate in UK.
Last week all firms that trade/sell/exchange crypto, had to register in UK. 33 firms registered and 5 firms didn`t register, so they have been granted temporary license for the moment.
The 5 company that didn`t register on time are Cex.io Ltd., Copper Technologies (UK) Ltd., Globalblock Ltd., Revolut Ltd., and Moneybrain Ltd.
At the end of March, the British financial regulator said that it extended the registration deadline for some crypto firms to meet its regulatory requirements. At that time, there were 12 firms on the temporary registration list. Companies that are not on the latest list cannot continue to operate after April 1.
Last week, the U.K. government unveiled a detailed plan to make the country a global crypto hub (London will be the capital of Crypto), and a “hospitable place for crypto.”
As part of the plan, the government has decided to regulate stable coins and the chancellor of the exchequer, Rishi Sunak, has asked the Royal Mint to create a non-fungible token (NFT) to be issued by the summer.
Sunak opined: “It’s my ambition to make the U.K. a global hub for crypto asset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate, and scale up in this country.”
