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Crypto.com Gets UK Regulatory Approval

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Crypto.com Gets UK Regulatory Approval

Representations of the Bitcoin cryptocurrency are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration

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LONDON, Aug 17 (Reuters) – Singapore-based cryptocurrency platform Crypto.com has registered with Britain’s financial services regulator, the company said in a statement on Wednesday.

Crypto.com has joined the Financial Conduct Authority (FCA) register, which means it is licensed to offer crypto asset services and products to clients in the UK.

The UK is a “strategically important market for us,” Crypto.com CEO Kris Marszalek said, citing an increase in crypto adoption in the country and the government’s program to make Great Britain Britain a hub for crypto assets. Read more

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As authorities around the world grapple with how to regulate the crypto industry, companies are racing to gain registration status with financial watchdogs.

The FCA has already faced backlash in the crypto industry after denying registration applications from dozens of crypto firms. Read more

Crypto.com, which has 50 million customers worldwide, registered in South Korea last week and in Italy in July.

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Reporting by Elizabeth Howcroft, editing by Sinead Cruise

Our standards: The Thomson Reuters Trust Principles.

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