The United Kingdom financial regulator, the Financial Conduct Authority (FCA) announced that it is expanding the duration of its temporary licensing regime for some cryptocurrency entities beyond the deadline which was going to expire at the end of March.
This temporary licensing regime was going to expire on March 31st, but a number of companies like Revolut, the crypto start- up Copper and crypto wallet platform provider Blockchain dot com will be allowed to continue operating after that deadline, according to FCA’s own announcement.
That said, the temporary license register ended on April 1st “for all but for a small number of firms where it is strictly necessary to continue to have temporary registration,” said the FCA. Then they added that “this is necessary where a firm may be pursuing an appeal or may have particular winding- down circumstances.”
That’s good news for the companies granted a reprieve, I imagine.