FCA Clarifies Crypto Rulebook Ahead of Authorization Window
The Financial Conduct Authority (FCA) has clarified how its new rulebook will apply to cryptocurrency firms ahead of an upcoming authorization window.
The FCA's guidance outlines the requirements for crypto businesses seeking authorization under the new rules, which are set to come into effect on a date not specified in the article. The regulator notes that firms must demonstrate their fitness and properness to operate in the UK market.
In related news, Bulgaria has adopted stricter reporting rules for cryptocurrency service providers, requiring them to register with the National Revenue Agency and submit user data. This move is part of the country's efforts to comply with EU regulations, which are aimed at improving anti-money laundering (AML) measures across member states.