Are UK crypto firms in limbo, awaiting crucial registration approval? Time is running out for crypto companies seeking to operate in the United Kingdom to get the Financial Conduct Authority's (FCA) clearance. The deadline looms large, with many facing uncertainty as they await the green light. Firms operating in Britain must be registered with the Financial Conduct Authority (FCA) by March 31st to legally operate.

Exclusive data reveals the significant backlog. While only 33 companies have secured full registration, a concerning 96 applicants are still awaiting approval for the UK’s anti-money laundering register. This bottleneck leaves many businesses in a precarious position. What happens in the event crypto companies fail to register with the financial regulator?

Several high-profile names remain on the temporary register, including crypto custodian Copper Technologies and digital bank Revolut. These twelve firms, as of Tuesday (Mar 29), face the challenge of meeting stringent regulatory requirements. Crypto companies seeking to operate in the United Kingdom have until Thursday to get the Financial Conduct Authority’s (FCA) clearance.

The implications of failing to secure registration are significant. Crypto companies seeking to operate in the United Kingdom have until Thursday to get the Financial Conduct Authority’s (FCA) clearance. This ongoing situation highlights the complexities of navigating the UK's evolving regulatory landscape for digital assets, and raises concerns about the future of some crypto businesses within the country.