87% of application for crypto licenses in the UK have failed in the past year

The UK Financial Conduct Authority (FCA) only registered four out of 35 companies that applied for licensing in the country over the 12-month period ending March 31, 2024, representing an 87% failure rate. The regulator attributes the failure rate to firms’ weak anti-money laundering controls. In its annual report, the FCA claims its regulatory approach […] source: https://www.cryptopolitan.com/crypto-licenses-in-uk-have-failed/