Regulatory gap analysis: FCA declines Zeux Limited's Cryptoasset Registration application

Zeux Limited are the first applicant for Cryptoasset Registration that has had their refusal decision notice published by the FCA. At the time of publication, only 14% of the 351 Crypto applications received by the FCA have been successful, with the large majority of firms having to withdraw from the process.

This makes this decision notice very useful for firms who are seeking Cryptoasset Registration with the FCA. The issues referenced by the FCA span across Risk Assessment (both Business-wide Risk Assessments and Customer Risk Assessments), Enhanced Due Diligence and SAR reporting.

Our gap analysis is linked below for you and your senior management to break down the key issues and challenge yourselves on the adequacy of your controls against the FCA's expectations.

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