Nearly 90% of Crypto Firm Applications Rejected by UK Regulator
The UK doesn’t seem to be warming up to crypto. A report released Thursday by the country’s financial watchdog said that nearly 90% of applications from crypto firms were rejected over the past year. The reason? Inadequate protections against fraud. “Over 87% of crypto registrations were rejected, withdrawn or refused for weak money laundering controls,” the Financial Conduct Authority (FCA) said in its latest annual report. The FCA regulates financial services firms and financial markets in t...