Avencia Digital Ltd has been temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the “MLR 2017”) as a cryptoasset business until 31 March 2022, pending determination of our application by the Financial Conduct Authority (the “FCA”). The FCA is the relevant regulatory body for financial services in the UK. It’s their job to make sure companies who offer financial services and products are doing the right thing. Starting with 10 January 2020, the FCA is the regulatory authority under the MLR 2017 for cryptoasset businesses operating in the UK.
Your use of Avencia Digital Services is subject to acceptance of the Company's Anti-Money Laundering and Counter Terrorist Financing Policy (“the AML Policy”) which may be found on the company’s website www.avencia.digital under the “Important Information tab”. Please, note that non-compliance with the Company’s AML Policy constitutes a breach of the Terms and Conditions Agreement which leads to the termination of the Agreement with immediate effect.
Avencia Digital Ltd operates as an Over-the-Counter (OTC) cryptocurrency broker and is allowed to provide its customers with certain cryptocurrency brokerage services. But it is important for you to remember that we are not a bank or credit institution, so any funds we may receive from you are not protected by the Financial Services Compensation Scheme, and our cryptoasset activity is not within the scope of the jurisdiction of the Financial Ombudsman Service.
Customers wishing to solicit Avencia Digital Ltd (the “Company”) to buy and sell cryptocurrencies must make, within adequate time, a transfer of funds to the Company bank account. The funds must equal the cryptocurrency transaction amount required. We receive fiat currency transfers in GBP or EURO.
The full details of our registration can be viewed on the FCA’s website by accessing the FCA’s list of cryptoasset firms with Temporary Registration at fca.org.uk.