Crypto.com Wins a License from the FCA

The Financial Conduct Authority, UK’s financial regulator, has granted authorization to the global cryptocurrency platform Crypto.com as an Electronic Money Institution.

This follows Crypto.com’s initial registration as a cryptoasset business with the FCA in August 2022.

The Crypto asset Register focuses on anti-money laundering and counter-terrorist financing compliance for companies engaged in crypto asset activities in the UK, while the EMI license allows for a broader range of financial services, including the issuance and management of electronic money.

Crypto.com plans to introduce UK-specific e-money products as part of their authorized services. Other crypto companies, such as Coinbase, Gemini, and Aave, have also obtained EMI licenses, while Kraken has received EMI authorization in Ireland and Virtual Asset Service Provider registration in Spain.