You must register with us if you want to provide cryptoasset services that come within scope of the money laundering regulations (MLRs). Find out if this applies to you.
If you already know that you are in scope of the cryptoasset MLR regime, visit How to apply for registration and How to submit a good application.
We are the anti-money laundering and counter-terrorist financing (AML/CTF) supervisor of UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017(MLRs).
This information will also interest cryptoasset businesses that may need to seek registration with the FCA under the MLRs to allow them to communicate financial promotions in the UK as a result of the extension of the UK’s financial promotions regime to include qualifying cryptoassets.
Who needs to register?
If you want to provide certain cryptoasset services by way of business and you intend to act in the course of business in the United Kingdom, you must register with us before you begin.
The requirement to be registered is set out in Regulation 8L and Regulation 9 of the MLRs. Regulation 14A defines the cryptoasset services that come within scope of the MLRs.
Businesses already registered with or authorised by the FCA for other services (such as e-money institutions, payment institutions and firms authorised under FSMA) must also register with us under the MLRs if they intend to provide in scope cryptoasset services.
You should consider the 3 questions below to determine if you require registration with us.
Complying with the UK’s financial promotions regime
The UK’s financial promotions regime applies to all firms marketing cryptoassets to UK consumers regardless of where the firm is based. The regime is technology agnostic, it applies regardless of the type or format of the communication.
Cryptoasset businesses that wish to market to UK customers (ie communicate their own cryptoasset financial promotions) need to register with us under the MLRs unless their financial promotions are approved by an authorised person or rely on an exemption in the Financial Promotion Order.
Cryptoasset businesses seeking registration in order to market to UK customers should consider how they will meet the requirements set out in Regulation 8 and Regulation 9 of the MLRs.
If you are unsure whether you need to register, you should seek independent legal/compliance advice.
You can read further information on marketing cryptoassets to UK customers.
Applying for registration
If you have determined that you require registration under the MLRs, visit How to apply for registration.
Data
Information on the outcome of applications received and pre-application requests.
