UK FCA: Only 41 out of 300 crypto companies that applied for registration in the past two years received full approval

ChainCatcher news, the UK's Financial Conduct Authority (FCA) has released recommendations for cryptocurrency companies applying for registration, covering considerations that applicants need to take into account before, during, and after submitting their registration application to the FCA. When preparing the application, cryptocurrency companies should include detailed information about their business model, the roles and responsibilities of business partners, and demonstrate comprehensive business risk assessment capabilities. "This feedback should help applicants prepare their registration applications and assist in making the process as simple and efficient as possible."

The FCA stated that since opening the registration system two years ago, only 41 out of 300 cryptocurrency companies that applied for registration have received full approval, while 195 companies withdrew their applications and 29 were rejected. (Source link)