Lisa Cameron Responds to the FCA Announcement that the Temporary Registration Regime is to be Extended for Cryptoasset Businesses and Comments on how it Lacks Clarity
Chair of the APPG Lisa Cameron MP says FCA’s approach to registration of UK crypto firms is costing the UK jobs, talent and revenue.
“We have heard numerous reports of UK firms experiencing significant delays from the FCA in relation to their applications as well as poor communication and a lack of clarity from the regulator throughout this process.The UK crypto sector overwhelmingly supports regulation and we have seen firms applying to the FCA for registration precisely because they want to be compliant and want to continue to operate in the UK.The lack of clarity from the FCA has presented huge challenges to firms in terms of business certainty and we are still awaiting an update from the FCA and Government in terms of what will happen after the end of March deadline.We are now hearing of firms actively leaving the UK as a direct result of the FCA’s approach which will cost the UK in terms of jobs, talent, and revenue.”
