On 21 October 2024, the FCA published a blog, Cryptoasset registrations: building strong foundations.
Among other things the blog states that no two FCA registration applications are the same and therefore the FCA’s guidance, pre-application meetings and practical examples are there to help each individual applicant. The FCA’s decision on whether to register is not just based on the controls and systems firms have in place. It looks at the environment they operate in, the people involved in these processes and the customers they want to reach. All this means is that the time it takes the FCA to reach a decision can and will vary.