cryptohunter
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The initial step to acquire a permit as a Electronic Money Institution (EMI) in the United Kingdom necessitates presenting an exhaustive request to the Financial Conduct Authority (FCA). This request encompasses elaborate details about the business module, ownership arrangement, financial stability, procedures for countering money laundering (AML), and policies for managing risks. Subsequently, the FCA scrutinizes the request to ensure adherence to regulatory benchmarks and grants the permit once the applicant satisfies the required criteria.
