The UK Financial Conduct Authority (FCA) has closed its investigation into BCB Group, a leading European-based crypto payment services provider.
Last year, the FCA issued the firm a s166 (a skilled person review that evaluates a firm’s financial integrity, technical capability, conflict of interest, etc.) notice.
Two sources familiar with the situation confirmed the inquiry, which is now closed. They spoke anonymously because the matter was sensitive.
BCB Group Eyes Regulatory Expansion After Positive FCA Review
The FCA issued BCB an s166 notice late last year. This type of notice typically requests information and indicates that a firm is scrutinized for compliance issues.
However, CoinDesk reported investigation has concluded with a positive outcome for the company.
BCB is now in talks with the FCA to expand its regulatory license. This development suggests that the company is positioning itself to enhance its operations in the UK.
It aims to integrate further into the financial services landscape, especially as the relationship between traditional banking…
