Getting registered under 5MLD
Cryptoasset businesses have needed to comply with Money Laundering Regulations (MLRs) since the 10th January 2020, irrespective of whether they are currently registered with the FCA or not. Cryptoasset firms may seek to be registered with the FCA if they want to begin, or continue, any cryptoasset activity. All new cryptoasset businesses must be registered with the FCA before they can carry out any activity, while those already trading must be registered by 10th January 2021, or stop all activity.
This factsheet explains the activities in scope of the MLRs, provides an explanation of the documentation that is required for a successful FCA registration and offers an idea of timescales for those firms that wish to seek registration.
Click here to access factsheet
Related resources
All resources
Identifying the weaknesses in firms’ transaction reporting governance and control frameworks
Bitesize webinar: Establishing a robust prudential monitoring framework
Operational Resilience: regulatory guidelines for critical third parties aim to avoid systemic disruption
Multi-firm findings for the payments industry – is Consumer Duty a cause for concern?