Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

# UK Regulators Put Crypto Approvals on Freeze: What's Really Going On?



The FCA just hit crypto firms with a reality check. In the past six months? Zero registrations approved. Out of 34 applications filed in the last year, only 4 made it through the finish line—and get this, 16 companies straight-up withdrew their applications before even getting a yes or no.

The culprit? Companies are failing to meet basic anti-money laundering (AML) compliance standards. The lucky four who got the green light were Portofino, crypto bank Banxa UK, PayPal, and custody firm Koimanu.

What this actually means: The FCA isn't saying no to crypto—they're saying the bar is *way* higher now. If you can't prove you've got legit AML controls, you're not getting in. And the fact that half the applicants bailed before rejection? That tells you how serious the FCA has gotten.

The takeaway for the industry: compliance isn't optional anymore in the UK. It's the price of entry.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)