Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether all firms that have applied for crypto anti-money laundering authorisation with the Financial Conduct Authority will have their applications processed by the deadline of 9 July 2021.

The Financial Conduct Authority (FCA) announced on 3 June that the Temporary Registration Regime for cryptoasset firms would be extended from 9 July 2021 to 31 March 2022. Extending the regime will allow firms which are currently part of the regime to continue trading whilst their applications for anti-money laundering supervision are being assessed. The FCA has increased considerably the resources allocated to assessing applications, with a view to processing the remaining applications by the new deadline.