The leading financial regulator of Britain, the Financial Conduct Authority has allowed five cryptocurrency firms to continue operations within the country with the provision of temporary registrations. 
<h2>Financial Regulators Approve Temporarily Registered Crypto Firms</h2>
On Thursday, United Kingdom’s Financial Conduct Authority updated the digital asset firms list which included firms that have been functioning with provisional registrations. The following five firms are Cex.io Ltd., Copper Technologies (UK) Ltd., Globalblock Ltd., Revolut Ltd., and Moneybrain Ltd.

In the month of March, the financial regulator announced an extension to the deadline for crypto firms to submit registrations for the regulatory requirements. At the time of the announcement, there were a total of twelve firms had been added to the list. 

A spokesperson of the FCA stated, 
<blockquote>“We’ve been reviewing crypto-asset firms’ applications to ensure they meet the minimum standard of running a firm that is fit, proper, and has adequate systems to identify and prevent crime.” </blockquote>
The spokesperson described crimes as that of money-laundering, fraudulent behaviors, and scams.
<h2>U.K Government Announces Pro-Crypto Strategies</h2>
Earlier this month, the government officials of the <a href="https://www.cryptoknowmics.com/news/uk-aims-to-become-a-crypto-asset-technology-hub/">United Kingdom</a> disclosed strategies to make the country a global hub. Quoting the officials, the announcement stated, “a hospitable place for crypto.”

The U.K. authorities have decided to regulate stablecoins and Rishi Sunak, the Chancellor of Exchequer has requested Royal Mint to create NFTs (non-fungible tokens) which will be issued by summer. 

In conclusion, Sunak adds his mission to turn the UK into a “global hub for crypto-asset technology.” Furthermore, he continues,
<blockquote>“The measures we have outlined today will help to ensure firms can invest, innovate, and scale-up in this country.”</blockquote>

Financial Conduct Authority of UK Approves Operation of Five Crypto Firms

Britain's Financial Conduct Authority has allowed 5 cryptocurrency firms to continue operations within the country with temporary registrations. 

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Financial Conduct Authority of UK Approves Operation of Five Crypto Firms

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