UK FCA Slow to Take Enforcement Action on Crypto Firms, the National Audit Office Says

Camomile Shumba

The FCA has required crypto firms to register to comply with the country’s anti-money laundering regulations since January 2020. Although it then began supervision work, including engaging with unregistered firms, “it did not begin taking enforcement action against illegal operators of crypto ATMs until February 2023,” according to the report.

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