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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.

By Camomile Shumba
AccessTimeIconDec 4, 2023 at 1:10 p.m. UTC
Updated Mar 8, 2024 at 6:07 p.m. UTC
UK London (Artur Tumasjan / Unsplash)
UK London (Artur Tumasjan / Unsplash)
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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.

Read more: Coinbase Receives E-Money License from UK Regulator

Edited by Sheldon Reback.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies 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 with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Camomile Shumba
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.

Follow @camomileshumba on Twitter

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