Bitstamp is now amongst 42 companies listed by the Financial Conduct Authority (FCA) as registered cryptoasset companies.
The alternate’s UK arm was added to the record on June 13, 2023.
It joins different platforms like eToro, Revolut and Moonpay on the FCA record of companies complying with Money Laundering, Terrorist Financing and Transfer of Regulations (MLRs).
Crypto alternate Bitstamp has been registered as a cryptoasset business by the UK’s Financial Conduct Authority (FCA), becoming a member of a small record of crypto companies to be duly registered in the United Kingdom.
Bitstamp UK Limited is FCA’s solely crypto alternate registration to this point in 2023, with its licensing as compliant with the Money Laundering, Terrorist Financing and Transfer of Regulations 2017 (MLRs) efficient on June 13.
“The achievement acknowledges Bitstamp for our constant and unwavering commitment to operating at the highest standard. It additionally confirms that our platform offers compliant and secure access to cryptocurrencies in the UK, in accordance with the strict requirements set forth by the FCA,” Bitstamp wrote in a weblog announcement on Tuesday.
The different platform to obtain FCA’s nod was on-line buying and selling platform Interactive Brokers Limited.
Bitstamp joins eToro and Revolut on FCA record
The FCA now lists 42 crypto and crypto associated companies registered below compliance with the MLRs, together with Ziglu Limited, Gemini Payments UK LTD, Zumo Financial Services Limited, Coinpass Limited, Baanx.com Ltd, ICONOMI LTD, Fidelity Digital Assets, Bitpanda Custody Ltd, Wintermute Trading LTD, Galaxy Digital UK Limited, MoonPay (UK) Limited, eToro (UK) Ltd and Revolut.
For Bitstamp, the UK regulator’s transfer now sees the alternate have approval throughout 52 jurisdictions globally. The alternate serves each institutional and retail prospects, together with offering crypto custody companies, fiat-to-crypto purchases and gross sales and crypto-to-crypto buying and selling.
Registration comes amid the crackdown on crypto exchanges in the US, with each Binance and Coinbase sued by the SEC. The not-so-friendly crypto regulation surroundings in the US has seen Asia, notably Hong Kong and UAE look to take benefit in quest to develop into crypto hubs.
