Crypto.com Receives Green Light as Electronic Money Institution in the UK
The post Crypto.com Receives Green Light as Electronic Money Institution in the UK appeared on BitcoinEthereumNews.com.
Crypto.com, is a trusted name in the crypto world with over 80 million global customers and a renowned figure in regulatory compliance, security, and privacy. In a significant stride forward, it has disclosed today that it has obtained authorization as an Electronic Money Institution (EMI) from the United Kingdom’s Financial Conduct Authority (FCA). This notable nod comes on the heels of Crypto.com’s crypto asset business registration with the FCA in August 2022. Earlier, Crypto.com unveiled EUR-FIAT wallet solutions. Crypto.com Expansion into UK E-Money Products and Ongoing Collaboration with the FCA This endorsement empowers Crypto.com to introduce a range of UK-specific e-money products. It’s an integral part of the robust FCA framework, aligning seamlessly with Crypto.com’s commitment to upholding top-tier consumer protection standards. The CEO of Crypto.com, Kris Marszalek, conveyed the company’s enthusiasm by expressing that the UK continues to be a crucial market for their business and the broader industry. He mentioned that they eagerly anticipated maintaining their collaboration with the FCA, a global regulatory leader, as they jointly strive for responsible crypto innovation. According to Kris Marszalek, the CEO of Crypto.com, the UK retains its position as a pivotal market for their business and the broader industry. He expressed their eagerness to sustain collaboration with the FCA, a global regulatory leader, as they jointly strive for responsible crypto innovation. Crypto.com’s Regulatory Triumphs and Emerging Leadership in the Crypto Industry This announcement marks another achievement in Crypto.com’s regulatory journey. Previously, the company obtained its Major Payment Institution (MPI) license for Digital Payment Token (DPT) and MPI for e-money-related services from the Monetary Authority of Singapore. It has also secured approvals and registrations from regulatory bodies in various countries, including the US, France, Singapore, South Korea, Australia, Spain, Italy, Greece, Cyprus, and the Cayman Islands. Founded in 2016, Crypto.com has consistently…
Filed under: News - @ December 4, 2023 4:14 pm