UK Crypto Trade Group Calls for Action Over Chronic Delays to FCA Registrations
Only four out of 200 crypto businesses' applications to the FCA's Money Laundering Registration regime have seen a decision, said CryptoUK.
The new FCA policy will see the number of companies required to submit financial crime reports increase from 2,500 to 7,000.
Russia's anti-money laundering agency is going to identify and track down bitcoin-to-fiat sales, the government official said.
The new tool uses an oracle on Chainlink to spot crypto wallet addresses on government watchlists.
An exchange spokesperson said the new anti-money laundering regime would make it too tough to continue operating.
The new requirements take effect in April.