Revolut has been capable of proceed to supply crypto shopping for and promoting providers to UK shoppers beneath a short lived waiver since March, when the FCA deadline for registration closed for current companies.
The lengthy look forward to authorisation is believed to have stemmed from AML compliance points, which have since been resolved.
The FCA’s inexperienced gentle will present some succour for Revolut, which remains to be awaiting the watchdog’s approval for a UK banking licence.
Revolut submitted the licence utility in January final 12 months, and the FCA’s tardiness in responding has been a supply of frutration for the agency’s go-getting boss Nik Storonsky. In June, he overtly referred to as out the regulator for its sluggish progress in processing the paperwork.
Having handed muster with the Prudential Regulatory Authority, Storonsky mentioned it might be helpful for sure KPIs to be put in place on the FCA, in addition to “stricter timelines”, extra individuals or “extra environment friendly individuals”.,Revolut has lastly been accepted on the Monetary Conduct Authority’s registry of crypto asset corporations following a protracted authorisation course of.,
