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- Crypto.com secures UK EMI approval, widening product range under FCA regulation.
- FCA authorizes Crypto.com as an Electronic Money Institution for UK operations.
- Crypto.com’s regulatory momentum grows, emphasizing consumer protection and innovation in the UK.
In a significant regulatory stride, Crypto.com, a globally trusted platform with over 80 million users, has received approval as an Electronic Money Institution (EMI) from the Financial Conduct Authority (FCA) in the United Kingdom.
This milestone, following Crypto.com’s FCA registration as a crypto asset business in August 2022, allows the platform to diversify its product offerings within the UK. The EMI authorization empowers Crypto.com to introduce a range of UK-centric e-money products, aligning seamlessly with the robust regulatory framework of the FCA.
The move underscores Crypto.com’s commitment to upholding the highest standards of consumer protection, a crucial aspect in the evolving landscape of cryptocurrency and financial services. Kris Marszalek, CEO of Crypto.com, expressed the company’s commitment to responsible innovation for crypto and highlighted the UK’s pivotal role in their global operations.
He stated, “The UK has and continues to be a hugely important market for our business and the greater industry.” This regulatory accomplishment adds to Crypto.com’s already impressive list of approvals and licenses from various jurisdictions globally.
These include recognition as a Major Payment Institution for Digital Payment Token (DPT) by the Monetary Authority of Singapore, approvals from the US Commodity Futures Trading Commission (CFTC), the Autorité des marchés financiers (AMF) in France, the Dubai Virtual Assets Regulatory Authority (VARA), AUSTRAC in Australia, ASIC’s Australian Financial Services Licence and Australian Credit Licence, and several others.
Crypto.com’s steady expansion and commitment to regulatory compliance position it as a key player in the evolving landscape of digital finance, providing users with a secure and compliant platform for their cryptocurrency needs.