The Financial Conduct Authority (FCA), the financial regulator of the United Kingdom, has just decided to extend until July 9, 2021, the period in which crypto companies that have applied for registration with the regulator can operate, The Block reports.
The previous deadline allowed cryptocurrency-related businesses to continue operating normally until January 10 next year while the FCA studied their registration applications.
However, the regulator has decided to extend the deadline due to the impossibility of studying all applications received in time, partly because of the complexity of the process as well as the covid-19 pandemic, which has resulted in the FCA not being able to visit companies as planned due to the restrictions in place.
As a result of this extension, crypto companies whose applications for registration still must be reviewed and approved by the regulator will be able to continue operating normally until July 9, 2021.
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