Cryptocurrency firm advised by Philip Hammond withdraws UK application

Copper Technologies has moved customers to Switzerland after struggling to gain full FCA approval

A cryptocurrency firm that employs the former chancellor Philip Hammond as an adviser has withdrawn its application to operate in the UK, after struggling to win approval from the financial regulator.

The Guardian revealed earlier this year that Copper Technologies, in which Hammond holds a 0.5% stake, was considering seeking registration in Switzerland rather than the UK.

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​Copper Technologies has moved customers to Switzerland after struggling to gain full FCA approvalA cryptocurrency firm that employs the former chancellor Philip Hammond as an adviser has withdrawn its application to operate in the UK, after struggling to win approval from the financial regulator.The Guardian revealed earlier this year that Copper Technologies, in which Hammond holds a 0.5% stake, was considering seeking registration in Switzerland rather than the UK. Continue reading…