By June 30, Revolut was the only company remaining on the list and ended up being the only one to receive approval from the FCA. The other four companies have opted to register elsewhere and operate outside the U.K.GlobalBlock planned to come off the TRR regime because it felt the FCA was “not ready” for crypto companies at that point, CEO Rufus Round told CoinDesk in an interview in April. Round added that the regulator hadn’t approved its application for at least 18 months.
Copper is still in talks with regulators across the jurisdictions the company is operating in, including the U.K., Carly Nuzbach Lowery, the firm’s chief legal officer, said in an email to CoinDesk in July. Copper’s subsidiary received awhen it was added to the country’s Financial Services Standard Association, a self-regulatory body recognized by the Swiss Financial Market Supervisory Authority, Lowery said.
CEX formally withdrew its application on May 31, according to Jonathan Wykes, managing director of U.K. and Europe at the firm. It has moved users located in theFirms serving U.K. customers should be regulated with the FCA, but the regulator is waiting for crypto to be added to theMoneybrain didn’t respond to a request for comment.
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