The UK financial regulatory agency sticks to its decision to continue implementing stringent rules in the registration process of businesses involved in cryptocurrencies. The Financial Conduct Authority (FCA) asserted that UK’s tough regulations on crypto firms serve as a deterrence to prevent these companies from becoming conduits for any money laundering activities. Strict Rules Necessary The FCA upheld the strict registration process under the Money Laundering Regulations (MLRs), stressing that the regulations are vital to safeguard the integrity of the UK’s financial system. In a statement, Val Smith, head of…
