Crypto.com Receives UK Authorization as an Electronic Money Institution

The exchange said it plans to use the license to offer e-money products in the U.K.

AccessTimeIconDec 4, 2023 at 1:10 p.m. UTC
Updated Jan 26, 2024 at 3:35 p.m. UTC
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Crypto.com received authorization to operate as an electronic-money institution in the U.K., the exchange said in a Monday press release.

It will use the new license from the Financial Conduct Authority to offer e-money products in the U.K., the company said. Crypto.com, as Forisgfs UK, was registered as a crypto business by the FCA in August last year.

“The U.K. has and continues to be a hugely important market for our business and the greater industry,” said Kris Marszalek, CEO of Crypto.com. The country has said it wants to be a crypto hub.

Crypto.com has been striving to be compliant with regulators across the globe. The exchange recently received licenses in Singapore and is regulated as a derivatives clearing organization with the U.S. Commodity Futures Trading Commission. It also has registrations and licenses in France, Dubai and elsewhere.

Edited by Sheldon Reback.

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Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.


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