UK FCA accelerates encryption approvals: application processing time shortened to 5 months, recent approval rate reaches 45%

According to Mars Finance, the Financial Conduct Authority (FCA) in the UK has significantly improved the processing efficiency of Crypto Assets registration applications, as reported by the Financial Times. Data shows that as of April this year, the registration process for Crypto Assets providers takes an average of only 5 months, a substantial reduction from 17 months two years ago. The recent approval rate for applications has risen to 45%, far exceeding the less than 15% level of the previous five years.

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