Cryptocurrency dealers face closure for failing UK money laundering test
by Kalyeena Makortoff Banking correspondent from Technology | The Guardian on (#5JKYN)
Up to 50 companies dealing in digital assets such as bitcoin could be forced to stop trading immediately
Up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK's anti-money laundering rules.
The Financial Conduct Authority, the City regulator, announced on Thursday that an unprecedented number" of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could green-light or formally reject their operations.
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