Cryptocurrency Firms
Regulatory Requirements and Authorisation
Cryptocurrency firms in the UK must be registered with the FCA and comply with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. The FCA ensures crypto businesses implement effective measures to identify and mitigate financial crime risks. In addition to AML/CTF requirements, firms must be prepared for the FCA’s evolving regulatory landscape, which may impose further rules on areas such as consumer protection and advertising.
RegTechPRO provides cryptocurrency firms with in-depth AML and CTF compliance manuals, policy templates, and risk assessment checklists to navigate regulatory obligations confidently. Our resources guide you through the FCA registration process and outline best practices for implementing robust financial crime prevention measures, ensuring your firm remains compliant and well-prepared for potential regulatory changes.
AML and CTF Compliance
Cryptocurrency firms are required to establish comprehensive AML and CTF frameworks. This includes conducting risk assessments, implementing customer due diligence (CDD) procedures, monitoring transactions for suspicious activity, and reporting any concerns to the National Crime Agency (NCA). Firms must also train staff to effectively understand and execute their financial crime prevention responsibilities.
RegTechPRO offers AML and CTF resources tailored for cryptocurrency firms, including risk assessment templates, CDD checklists, and staff training guides. Our step-by-step manuals provide practical advice on setting up transaction monitoring systems and meeting reporting obligations. With RegTechPRO, your firm can build a compliant and effective AML/CTF programme that aligns with FCA expectations.
Consumer Duty and Responsible Communication
While not fully integrated into current regulations for crypto firms, the FCA’s focus on consumer protection is increasing. This includes ensuring that all marketing and communications are clear, fair, and not misleading. The FCA’s Consumer Duty principles may become more relevant, requiring crypto firms to prioritise customer outcomes, provide transparent risk disclosures, and avoid aggressive or misleading promotional tactics.
Our platform provides communication templates and guidelines to ensure all promotional materials meet FCA standards. RegTechPRO’s checklists help your firm review communications for fairness and clarity, reducing the risk of regulatory breaches. We also offer practical advice on preparing for potential new consumer protection regulations, helping your firm stay ahead of evolving requirements.
Cryptocurrency firms must comply with data protection laws like GDPR to safeguard customer information. This includes implementing data security measures, providing clear privacy notices, and ensuring the lawful processing of personal data. Additionally, firms may have reporting obligations related to financial crime and must be prepared to submit regulatory reports promptly if required
RegTechPRO provides comprehensive GDPR compliance resources, including data protection policies, breach response guides, and security best practices tailored for cryptocurrency firms. Our platform also includes templates for reporting financial crime to the FCA and NCA, ensuring your firm can meet its obligations efficiently. With RegTechPRO, you can confidently manage data protection and reporting requirements, keeping your operations secure and compliant.
Book a no-obligation demo today to learn more about how RegTechPRO can add value to your firm.
