FCA updates on crypto stats

FCA has updated its information pages on crypto AML applications to reflect statistics to 1 March 2024. It has now received 340 applications since January 2020, including 26 in the past year and 2 in the past month. Determination statistics remain fairly static, with over 70% of applications being withdrawn and (over the past year) 3% refused. Over the past 12 months, 11% were successfully registered (14% since 2020). The remainder were rejected for not containing enough information, or where the information was so bad FCA could not reasonably determine the application.

Emma Radmore