- 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 UKโs 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 FCAโs EMI Authorization
According to a press release dated December 4, Crypto.com has received the FCAโs EMI authorization to offer โa suite of UK-localized e-money products.โ
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Crypto.com CEO Kris Marszalek lauded the win, noting that the UK remains an important market for the companyโs business and the greater digital assets industry.
โWe look forward to continuing to collaborate with a global regulatory leader in the FCA in our collective pursuit of responsible innovation for crypto,โ Marszalek stated.
Todayโs approval follows the companyโs registration as a crypto asset business with the FCA in 2022. Unlike the EMI license, Crypto.comโs approval in the FCAโs crypto asset register mandates the company to comply with the UKโs anti-money laundering and counter-terrorist financing provisions.
Other crypto-native companies awarded the EMI license in the UK include Coinbase and Gemini.
As governments and institutions worldwide call for crypto regulation, Crypto.com has taken proactive steps to foster global regulatory compliance.
โThe Industry Leaderโ in Regulatory Compliance
Founded in 2016, Crypto.com prides itself as an exchange trusted by over 80 million customers and โthe industry leader in regulatory compliance, security, and privacy.โ
Besides the two FCA authorizations, Crypto.com’s multi-licensing momentum has been on for a while. The company holds Singaporeโs Major Payment Institution (MPI) license for Digital Payment Token (DPT), Franceโs Digital Asset Service Provider (DASP), and Dubaiโs 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.comโs Earn Plus:
Crypto.com Earn Plus: Deep Dive and How to Get Started
Stay updated on Crypto.comโs win in the Netherlands:
Crypto.com Approved to Register and Operate in the Netherlands
