Crypto.com Granted FCA Approval as E-Money Institution in the UK
Crypto.com recently unveiled its recognition as an Electronic Money Institution (EMI) under the official sanction of the UK’s Financial Conduct Authority (FCA).
This significant nod arrives subsequent to Crypto.com solidifying its position as a credible player in the cryptoasset market following its registration with the FCA back in August 2022.
The endorsement from FCA now empowers Crypto.com to roll out a diverse range of e-money products specifically tailored for the UK audience, meticulously crafted in line with the FCA’s rigorous regulatory guidelines.
Emphasizing their unwavering commitment to consumer protection, Crypto.com’s compliance initiatives underscore the company’s dedication to maintaining the highest operational standards.
Kris Marszalek, CEO of Crypto.com, stressed the pivotal role of the UK market and affirmed the company’s dedication to driving responsible innovation in the crypto realm, solidified through ongoing collaborations with the FCA.
The FCA’s approval further bolsters Crypto.com’s string of regulatory milestones, complementing its previously secured licenses from key financial entities like the Monetary Authority of Singapore, the US Commodity Futures Trading Commission, and the Autorité des marchés financiers in France, among others.
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Moreover, Crypto.com has received green lights from various regulatory bodies across the globe, including approvals from Dubai, Australia, South Korea, Spain, Italy, Greece, Cyprus, and the Cayman Islands, showcasing a robust commitment to compliance on a global scale.
As Crypto.com moves forward, actively pursuing licenses in Canada and navigating the intricate web of international financial regulations, the company reaffirms its steadfast dedication to providing a secure and compliant suite of crypto services to a global clientele.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
