Crypto Firms

New cryptoasset firms must be compliant with the Money Laundering Regulations (MLRs) and register with the Financial Conduct Authority (FCA) before conducting any business.  

The registration process is not simple and many firms are facing difficult questions from the FCA. Flaws with the application often include:

• Firms having inadequate systems and controls in place to mitigate risk
• Not having adequate enhanced due diligence (EDD) procedures
• Providing inadequate responses to questions the FCA raise

With a dedicated Cryptoasset team, we are well positioned to help you navigate the 5MLD registration process and the regulatory environment, so we can help you:

1. Prepare and manage your 5MLD registration, or offer specialist services at an agreed hourly or fixed rate to help you answer FCA questions and manage any changes needed to your policies, processes, systems or controls
2. Develop your financial crime risk framework and carry out the mandatory annual independent risk assessment that is required under the MLRs
3. Develop the onboarding and due diligence processes required under the MLRs
4. Develop and implement the systems, controls, policies and procedures required of a regulated firm
5. Keep up to speed with regulatory developments with our face to face and remote regulatory training.

We are one of the most experienced Crypto registration advisors in the UK. We’ve already helped a number of well-known crypto brands to be approved by the FCA.