FCA: 87% of cryptocurrency company registration applications failed to meet approval criteria in the fiscal year ending March 31

Odaily News The UK Financial Conduct Authority (FCA) released an annual report showing that in the fiscal year ending March 31, 2024, 87% of cryptocurrency company registration applications failed to meet approval criteria. The FCA received a total of 35 applications, and only 4 companies were successfully registered. Approved companies include Binance payment partner BNXA, PayPal's UK subsidiary, and Nomura Securities' joint venture crypto custody company Komainu. The remaining applications were either rejected or dismissed due to the lack of key assessment factors. (Coindesk)