Crypto.com Gains UK Approval as an Electronic Money Institution

• Crypto.com Secures Approval to Operate as an E-Money Institution in the U.K.
• A Significant Milestone for Crypto.com
• UK's Ambition to Become a Crypto Hub
• Coinbase Also Gains U.K. E-Money License

Crypto.com Secures Approval to Operate as an E-Money Institution in the U.K.

In a recent announcement, it has been revealed that Crypto.com has been granted permission to operate as an electronic money institution in the United Kingdom. This approval comes from the Financial Conduct Authority (FCA) and will enable the company to offer e-money services in the U.K.

A Significant Milestone for Crypto.com

Previously registered as Forisgfs UK, Crypto.com was recognised as a cryptocurrency business by the FCA in August of the previous year. This latest development affirms the U.K.'s ongoing position as a vital market for the company and the broader industry.

Crypto.com has been making consistent efforts to attain regulatory compliance across the world. The company has recently acquired licenses in Singapore and has been regulated as a derivatives clearing organization by the U.S. Commodity Futures Trading Commission. Furthermore, Crypto.com holds registrations and licenses in other regions including France and Dubai.

UK's Ambition to Become a Crypto Hub

With the U.K.'s expressed aspiration to transform into a hub for cryptocurrency, this move by Crypto.com helps support this ambition while expanding their global footprint. The new license will further empower the company to bring a diverse range of e-money products to the U.K. market.

Coinbase Also Gains U.K. E-Money License

In related news, Coinbase, another prominent player in the crypto market, has also been granted an E-Money License from the U.K Regulator, further underlining the country's commitment to fostering a robust and regulated cryptocurrency environment.

Edited by Jonathan Stoker