United Kingdom: Extended Temporary Registration Regime for cryptoasset businesses

On 3 June 2021, the Temporary Registration Regime is extended by the Financial Conduct Authority (FCA) to allow cryptoasset firms to continue trading. The new end date to join the Temporary Registrations Regime is 31 March 2022, at which point firms must be permanently registered with approval by the FCA or cease their activites. The Temporary Registration Regime was established by the Financial Conduct Authority (FCA) to allow cryptoasset firms that registered with the FCA before 16 December 2020, to continue trading even if their applications were still being processed. In addition, these firms must comply with the Money Laundering Regulations.