The UK’s Financial Conduct Authority (FCA) has announced that it has established the Payments and Digital Asset directorate, which will oversee digital assets and payments made with them.
FCA, official on their website head of the directorate, according to his announcement Matthew Long brought. October Long, who will begin his tenure at FCA in May, is currently economic crimes and illegal finance carrying out activities against National Center for Economic Crime (NECC) He is a director within.
Also, Long is part of the NECC. It has combated organized immigration crimes, modern slavery, trafficking in people, drugs and firearms, and laundering the proceeds from these activities.
The FCA provides companies with activities related to crypto money markets with the necessary requirements to continue their operations in the UK. KYC / AML issuing their licenses, with the deadline approaching increasing pressures over Interim Victoria McLoughlin in April aspect digital assets director had appointed.
According to capital market expertscurrently appearing on the Financial Conduct Authority’s The biggest problem is that the licensing process is quite long and complex.. This tedious process B2C2 and blockchain.com as well as other companies from other regulator may result in a preference for licensing.