A leading crypto exchange based in Singapore. Crypto.com has been granted an Electronic Money Institution (EMI) license by the UK Financial Conduct Authority (FCA). This move was announced in an official press release on Monday, December 4, 2023. This move marks a crucial step for Crypto.com to expand its services in the UK.
The EMI license, a comprehensive authorization granted by the FCA, allows Crypto.com to supply and manage electronic money, as well as offering a range of financial services. This milestone comes as the company submits a report to FCA in August 2022. crypto- It came after it registered as an asset business.
Koinfinans.com As we reported, Crypto.com, known for its commitment to security, privacy and regulatory compliance, serves more than 80 million users worldwide. The new EMI license is expected to further strengthen the company’s industry leading position. The FCA’s approval allows Crypto.com to offer a range of e-money products localized in the UK, in line with its mission to maintain high standards of consumer protection.
Crypto.com CEO Kris Marszalek expressed his excitement about the development. “The UK market remains very important to our operations and the wider digital asset industry,” he said. “We look forward to continuing our work with the FCA, a global regulatory leader, to promote responsible innovation in the crypto sector.”
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Obtaining the EMI license is testament to Crypto.com’s commitment to stringent regulatory requirements under UK law, including anti-money laundering and counter-terrorism financing measures. This success led to Crypto.com, which also acquired the EMI license in the UK. coinbase and places it alongside other crypto-focused organizations like Gemini.
As global pressure for cryptocurrency regulation intensifies, Crypto.com’s commitment to compliance sets a benchmark in the industry. The company’s successful navigation through the regulatory environment signals a positive trend for the broader cryptocurrency market, promising greater confidence and stability for users and investors alike.