Crypto.com, the Singapore-based cryptocurrency exchange, has secured authorization from the UK’s Financial Conduct Authority (FCA) to operate as an Electronic Money Institution (EMI).
The exchange already had a crypto asset registration from the FCA, which allows it to offer crypto-related products and services in compliance with local regulations.
This EMI license allows Crypto.com to offer a range of UK-localized e-money products and expand its financial services. The approval adds to Crypto.com’s regulatory licenses in various countries, showcasing its commitment to global regulatory compliance.
Crypto.com’s CEO said that the UK is a very important market for the exchange and the crypto industry and that the exchange will collaborate with the FCA to pursue responsible innovation in crypto.
The exchange aims to conduct its operations in line with the FCA’s rigorous regulatory standards, focusing on consumer protection. Notable crypto firms like Coinbase, Gemini, Kraken, and Aave’s UK entity also hold EMI licenses.
Crypto.com has previously obtained regulatory approvals in Dubai, the Netherlands, Spain, South Korea, Australia, Italy, Greece, Cyprus, and more.
The company emphasizes its commitment to responsible innovation for the crypto industry in collaboration with regulatory authorities globally.
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