Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: mlawson71 on February 09, 2020, 03:38:19 PM
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The British regulator Financial Conduct Authority (FCA) has a new role – supervising the cryptocurrency sector in an attempt to control terrorism financing and money laundering. In order to do that the regulator is introducing a two-tier fee system for all cryptocurrency companies.
According to the new system, companies that make less than 250,000 GBP per year will have to pay a 2,000 GBP fee, and those who make over 250,000 GBP will be required to pay 10,000 GBP.
Source (https://www.forexbrokerz.com/news/larger-crypto-businesses-in-the-uk-will-pay-10000-registration-fee)
I think that cryptocurrency exchanges and crypto companies in general getting a proper license is a positive thing because it will provide them with mainstream legitimacy and make it safer for people who don’t know much about cryptocurrency industry to trade cryptos, but I am not sure how I feel about these fees. Are they too high, what do you think?