The Singapore-based firm, which serves more than 50 million customers, is now authorized to conduct “certain crypto asset activities” in the U.K., though what exactly those activities entail remains unclear. More details on the approval will come Wednesday, according to City A.M, which first reported the news.
Since its founding in 2016, Crypto.com has competed with other exchanges including FTX and Binance to cement its presence in international markets. Chief Executive Kris Marszalek has stressed Crypto.com’s commitment to compliance in discussing past arrangements. Still, the company has faced heat from the FCA over “misleading” advertisements.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.