- The UK Financial Conduct Authority has given regulatory approval to Crypto.com.
- Under this approval, Crypto.com will be able to offer UK customers a suite of products and services compliant with local regulations.
- In March, Crypto.com announced several senior hires in the UK, including the appointment of a UK General Manager and a Global Head of Sustainability and ESG.
Singapore-based cryptocurrency platform Crypto.com, has received regulatory approval from the Financial Conduct Authority (FCA) in the United Kingdom as a crypto asset business. This revelation came in a press release on August 17, 2022, from the company’s official website.
Under this approval, Crypto.com will be able to offer UK customers a suite of products and services compliant with local regulations. A study by BanklessTimes showed that the UK is a high-potential market for cryptocurrencies, with a 650% growth in crypto usage from 2018 to 2021.
Kris Marszalek, Co-Founder and CEO of Crypto.com, expressed his joy at the approval, saying:
The UK [represents] a strategically important market for us [as] the government is pushing forward with its plan to make Britain a global hub for crypto asset technology and investment. We look forward to further developing our platform and presence in the UK by expanding our offering to customers while continuing to work with regulators.
Crypto.com claims that it continues to grow and expand its ecosystem, with more than 50 million users worldwide. In March this year, the company announced the addition of a UK General Manager and a Global Head of Sustainability and ESG, among other senior hires in the UK.
This latest development follows Crypto.com’s regulatory license momentum in recent times. Other licenses it has acquired from other regions include Major Payment Institution License from Singapore, Virtual Asset License from the Dubai Regulatory Authority, pre-registration undertaking with the Ontario Securities Administration in Canada, and more.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
