The company joined a growing list of unregistered cryptocurrency-related businesses that continue to outweigh those signed up with the FCA.
“Successful registration depends upon a firm meeting the minimum standards we expect to prevent money laundering and terrorist financing, and we have seen too many financial crime red flags missed by the crypto asset businesses seeking registration.”
Although there is no clear understanding of what the immediate repercussions for the unregistered entities might look like, the FCA is surely no vegetarian when it comes to enforcement. On Sept. 13, one of the largest electronic payment providers in the United Kingdom, ePayments,three years later after receiving a respective order from the FCA due to alleged weaknesses in its “financial crime controls.
It isn’t the first time lately that FTX has caught the attention of the regulators. On Aug. 19, the Federal Deposit Insurance Corporation issued
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