Crypto.com Receives Authorization as an Electronic Money Institution in the UK
Singapore-based crypto exchange Crypto.com has obtained authorization from the UK’s Financial Conduct Authority (FCA) to operate as an electronic money institution (EMI).
Crypto.com Broadens Product Offering in the UK
Crypto.com’s EMI license allows the exchange to provide a wider range of financial services in the United Kingdom. Previously, the exchange received regulatory approval as a cryptoasset business, enabling them to offer products and services in compliance with local regulations. With the EMI license, they can now issue and manage electronic money. The CEO of Crypto.com, Kris Marszalek, expressed the importance of the UK market and their commitment to responsible innovation in the crypto industry.
Committed to Global Regulatory Compliance
Crypto.com has demonstrated its dedication to adhering to global regulatory requirements and has received authorization to operate in multiple countries. Recently, they obtained a Virtual Asset Service Provider (VASP) license in Dubai and registered with the Central Bank of the Netherlands and the Bank of Spain. In addition, they have received various licenses and registrations from regulatory authorities in Singapore, France, Australia, South Korea, Italy, Greece, Cyprus, the Cayman Islands, and Canada.
Hot Take: Crypto.com Expands its Reach as a Regulated Exchange
Crypto.com’s authorization as an Electronic Money Institution in the UK is another step towards their goal of global regulatory compliance. This allows them to provide a broader range of financial services to customers in the UK while ensuring consumer protection. With their growing list of licenses and registrations from regulatory authorities around the world, Crypto.com is positioning itself as a trusted and regulated exchange in the crypto industry.
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