- Crypto.com has won a second license in the UK.
- The exchange secured the Electronic Money Institution authorization.
- The license enables Crypto.com to offer various financial services in the UK.
Singapore-based cryptocurrency exchange Crypto.com has been licensed to operate as an Electronic Money Institution (EMI) in the United Kingdom (UK).
Issued by the UK’s Financial Conduct Authority (FCA), the EMI license is a broad authorization that allows firms to offer and manage electronic money and provide wide-ranging financial services.
Crypto.com Secures FCA’s EMI Authorization
According to a press release dated December 4, Crypto.com has received the FCA’s EMI authorization to offer “a suite of UK-localized e-money products.”
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Crypto.com CEO Kris Marszalek lauded the win, noting that the UK remains an important market for the company’s business and the greater digital assets industry.
“We look forward to continuing to collaborate with a global regulatory leader in the FCA in our collective pursuit of responsible innovation for crypto,” Marszalek stated.
Today’s approval follows the company’s registration as a crypto asset business with the FCA in 2022. Unlike the EMI license, Crypto.com’s approval in the FCA’s crypto asset register mandates the company to comply with the UK’s anti-money laundering and counter-terrorist financing provisions.
Other crypto-native companies awarded the EMI license in the UK include Coinbase and Gemini.
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As governments and institutions worldwide call for crypto regulation, Crypto.com has taken proactive steps to foster global regulatory compliance.
“The Industry Leader” in Regulatory Compliance
Founded in 2016, Crypto.com prides itself as an exchange trusted by over 80 million customers and “the industry leader in regulatory compliance, security, and privacy.”
Besides the two FCA authorizations, Crypto.com’s multi-licensing momentum has been on for a while. The company holds Singapore’s Major Payment Institution (MPI) license for Digital Payment Token (DPT), France’s Digital Asset Service Provider (DASP), and Dubai’s Virtual Asset Service Provider License (VASP), pending operational approval.
Other regulatory authorizations awarded to Crypto.com include VASP registration statuses in Spain and South Korea.
Read more about Crypto.com’s Earn Plus:
Crypto.com Earn Plus: Deep Dive and How to Get Started
Stay updated on Crypto.com’s win in the Netherlands:
Crypto.com Approved to Register and Operate in the Netherlands
