NFT Providers May Need Registration to Comply With UK Money La | Metaverse | Nfts | News
NFT Providers May Need Registration to Comply With UK Money Laundering Rules
Crypto businesses that issue non-fungible tokens (NFTs) in the U.K. rather than providing financial services will probably need to register with the Financial Conduct Authority even after the government introduces a new authorization regime for the industry, according to a consultation on money laundering issued by the Treasury on Monday. The government has been refining its crypto regulation environment, and last year said it planned to bring crypto exchanges and custody providers into the new crypto authorization regime.
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