FCA extends temporary crypto registration deadline

finextra.com:

This is set to close on 1 April but in an update on its site the FCA now says that the closure will not apply for a "small number of firms where it is strictly necessary to continue to have temporary registration".Among the dozen companies under the TRR are big names such as Revolut and Blockchain.com, which can now secure additional time if they show they need to provide extra information to make their case or make an appeal.Of the 100-odd crypto outfits to apply for registration since 2020, the FCA has approved 33, with the others either being rejected or withdrawing their applications.An FCA spokesperson tells Bloomberg: "While we have registered 33 firms, we have seen too many financial crime red flags missed by the cryptoasset businesses seeking registration."Worse, we have seen examples where firms do not have the controls necessary to raise red flags in the first place."