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UK Crypto Firms and Regulator Blame Each Other for Industry Exodus

Firms that tried, and failed, to register with the Financial Conduct Authority cite delays and poor feedback. The regulator says it rejected applications for failing to meet requirements.

Some of the U.K.'s crypto companies have found they can continue serving local users without having to go through the Financial Conduct Authority's registration process by simply operating out of a different jurisdiction. (Peter Cade/GettyImages)
Some of the U.K.'s crypto companies have found they can continue serving local users without having to go through the Financial Conduct Authority's registration process by simply operating out of a different jurisdiction. (Peter Cade/GettyImages)