Crypto.com recently shared a piece of exciting news with the cryptocurrency community-based in the United Kingdom. The digital asset exchange has announced it will be able to operate in the United Kingdom by carrying out cryptocurrency-related activities.
Crypto.com to Carry Out Certain Crypto Asset Activities
The exchange has just announced that it will be carrying out certain cryptocurrency asset activities in the United Kingdom after receiving a green light from the UK-based regulators.
Now, the exchange will be able to operate as a cryptocurrency service-providing firm in the United Kingdom. It will be able to offer the UK-based locals acquire cryptocurrency-related services in the United Kingdom.
The Financial Conduct Authority Gave the Green-Signal
The officials at Crypto.com confirmed that they had submitted a registration application to the Financial Conduct Authority (FCA) for approval.
Following the request submission, they received confirmation on Tuesday. The FCA has confirmed that their request for registration has been approved.
With the confirmation from the FCA, the exchange is now authorized to carry out certain cryptocurrency activities in the United Kingdom.
Official Announcement by the FCA
After giving the green signal to Crypto.com, the FCA has made an official announcement confirming the registration.
The FCA is yet to announce that they have authorized FORIS DAX UK LIMITED to operate in the United Kingdom and carry out certain cryptocurrency activities.
The particular company has been authorized by the Financial Services Register of the FCA. The company has also acquired the money laundering regulation status from the FCA to operate in the UK without any obstacles.
FORIS DAX UK LIMITED
FORIS DAX UK LIMITED is the trading name of Crypto.com in the United Kingdom.
For now, not much is known about the registration of Crypto.com or FORIS DAX UK LIMITED in the United Kingdom.
Even now, the Financial Conduct Authority has not commented or made an official statement about authorizing the company.
Crypto.com is Compliant with Regulatory Guidelines
If any cryptocurrency service provider wants to operate and offer services in the United Kingdom, they must be fully regulated.
They have to be fully compliant with the terrorist financing, money laundering, and know-your-customer guidelines.
As Crypto.com is now able to operate in the United Kingdom, it is clear that the exchange is fully compliant with all these guidelines.
Future of Crypto.com
Now that the exchange has a green signal from the FCA, it will be able to expand its services in the United Kingdom.
The exchange will be able to bring more users onboard and increase its overall user base. Crypto.com is a cryptocurrency exchange based in Singapore and has more than 50 million users all over the world.
