Cryptoassets cover many different types of products, but the most commonly used Cryptoassets types are Bitcoin, Litecoin, Ether, etc. These are designed to be used as a method payment. Cryptoassets like Bitcoin are regulated in the UK only for money laundering purposes. In the UK, the Financial Conduct Authority (FCA) assumed oversight of the cryptocurrency's anti-money laundering (AML) and counter-terrorism financing (CTF) activities. This is why crypto exchanges operating in the UK need to be FCA registered, with the exception that some cryptoassets services can obtain e-licenses instead of registering for FCA.
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