The Financial Conduct Authority is seeking the services of a third-party firm that specialises in the analysis of cryptocurrency asset blockchain data, according to a tender offer published by the financial watchdog.
Under the UK's Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, the FCA is required to approve and register firms conducting crypto asset activities and ensure they are effectively monitored and comply with relevant regulations. In order to carry out its role effectively, the regulator said it required access to specialist services that support the scrutinisation of this process and provide access to a platform that aids efficient analysis of crypto asset data. Crypto asset firms themselves are required to establish and maintain policies, controls and proc...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
