The Financial Conduct Authority of the United Kingdom announced on Thursday that crypto businesses were undeterred by their initial failure to secure licences to operate in the United Kingdom and were submitting new applications. Despite the UK government’s aim to make London a worldwide crypto centre, the FCA has been chastised by MPs and the crypto business for being slow to process licence applications and rejecting large numbers of applicants. The FCA scrutinises cryptocurrency enterprises for their ability to prevent their operations from being utilised for money laundering or terrorism financing.
