FCA Extends AML Reporting Rules To Crypto-Asset Firms

By Lucia Osborne-Crowley (April 1, 2021, 11:11 AM BST) -- The finance watchdog has toughened its supervision of crypto-asset companies by forcing the digital currency businesses to submit rigorous reports disclosing details of their defenses against money laundering.

The Financial Conduct Authority has said it will ramp up its anti-money laundering supervision by increasing the number of companies that have to submit a special financial crime log to the watchdog — known as REP-CRIM reports — and will bring in cryptocurrency firms for the first time.

The number of companies that will have to submit the financial crime report will increase from 2,500 to 7000, the FCA said on Wednesday, as it brings...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!