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

ChainCatcher news, according to the Financial Times, the UK's Financial Conduct Authority (FCA) has significantly improved the processing efficiency of cryptocurrency registration applications.

Data shows that as of April this year, the registration process for crypto asset providers takes an average of only 5 months, a significant reduction from 17 months two years ago. The recent approval rate has risen to 45%, far exceeding the less than 15% level of the previous five years.