UK crypto compliance is split across agencies: the FCA supervises AML, OFSI enforces financial sanctions, and the National Crime Agency receives suspicious activity reports. The UK Travel Rule for cryptoasset transfers took effect on 1 September 2023.
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Glossary term
What is FCA?
The FCA, or Financial Conduct Authority, is the UK regulator that supervises cryptoasset exchange providers and custodian wallet providers for anti-money laundering compliance. Firms carrying on these activities in the UK must register with the FCA under the Money Laundering Regulations 2017 and meet requirements on due diligence, monitoring, and the UK Travel Rule.