Cryptocurrency platform gets UK regulatory approval

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Cryptocurrency platform gets UK regulatory approval
Cryptocurrency platform gets UK regulatory approval

The cryptocurrency platform joined the Financial Conduct Authority’s (FCA) register, which means it has approval to offer crypto asset services and products to customers in the United Kingdom

Crypto.com, a Singapore-based cryptocurrency platform has registered with Britain’s financial services regulator, the company said in a statement on Wednesday.

The cryptocurrency platform joined the Financial Conduct Authority’s (FCA) register, which means it has approval to offer crypto asset services and products to customers in the United Kingdom.

Citing an increase in crypto adoption in the country and the government’s agenda to make Britain a hub for crypto assets, Kris Marszalek, CEO of Crypto.com said, the UK is a “strategically important market for us.”

Firms are racing to gain registration status with financial watchdogs as authorities around the world are grappling with how to regulate the crypto sector.

After turning down registration applications from scores of crypto companies, the FCA has previously faced a backlash in the crypto sector.

The cryptocurrency platform, which has 50 million customers globally, had registered in South Korea last week and in Italy in July.

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