The UK FCA previously said that almost 90% of annual crypto license applications had failed as of September.
Copper Technologies, a cryptocurrency custody firm backed by British multinational bank Barclays, has reportedly withdrawn its crypto license application in the United Kingdom.
Copper withdrew its application to register with the UK’s Financial Conduct Authority on Dec. 20, saying it will shift focus to foreign hubs under its new CEO, according to a report by Bloomberg.
Chaired by former UK chancellor of the exchequer Philip Hammond, Copper is one of the largest crypto businesses in the UK and has reportedly received millions in investment from Barclays.
