Crypto.com Receives Regulatory Approval to Operate in the United Kingdom

Crypto.com Receives Regulatory Approval to Operate in the United Kingdom

Cryptocurrency exchange Crypto.com continues to spread its wings across Europe.

Crypto.com, a Singapore-based cryptocurrency exchange founded in 2016, has received yet another regulatory approval, this time from the United Kingdom’s Financial Conduct Authority (FCA)

According to the announcement shared by the crypto exchange on August 17th, the company has been approved as a crypto asset business. This regulatory approval will allow Crypto.com to provide its services to the residents of the United Kingdom while complying with local regulations. 

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

Crypto Token VS Coin (Animated Explainer & Examples)

Crypto Token VS Coin (Animated Explainer & Examples) Crypto Token VS Coin (Animated Explainer & Examples)

Co-founder and CEO of Crypto.com Kris Marszalek commented on the news, saying:

This is a significant milestone for Crypto.com, with the UK representing a strategically important market for us and at a time when the government is pushing forward with its agenda to make Britain a global hub for crypto asset technology and investment. We are committed to the UK market and we look forward to developing our platform and presence in the UK further by expanding our offering to customers while continuing to work with regulators.

The news broke on August 16th, when FCA included “FORIS DAX UK LIMITED” (Crypto.com trading name in the UK) in its Financial Services Register. The company has been registered to provide “certain crypto asset activities”. 

Crypto.com has been actively obtaining regulatory approvals across the globe. Just recently, on August 15th, Crypto.com filed a pre-registration documentation to gain a right to operate in Canada. On the other hand, on August 11th, the Cayman Islands declared Crypto.com as a Virtual Asset Service Provider

On August 8th, the crypto exchange acquired two South Korean companies, PnLink Co., Ltd. and OK-BIT Co., Ltd., which opened the doors for Crypto.com to receive South Korean Virtual Asset Service Provider and Electronic Financial Transaction Act licenses. 

This summer, Crypto.com gained licenses in Cyprus, Italy, Dubai, Singapore, and Greece. 

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


Loading...