European crypto exchange Bitstamp has obtained regulatory approval in the U.K. from the Financial Conduct Authority (FCA)

 

European crypto exchange Bitstamp has obtained regulatory approval in the U.K. from the Financial Conduct Authority (FCA), the country's financial regulator.  The approval will allow the firm to operate in the U.K. in compliance with local regulations.  With the move, Bitstamp has joined several other crypto-related firms registering with the FCA, such as Revolut, Gemini, Kraken, and eToro.  To obtain the registration, Bitstamp needed to pass FCA's strict checks regarding anti-money laundering.  The popular crypto exchange said the FCA's decision confirmed its commitment to offering compliant and secure access to cryptocurrencies in the U.K. under the strict requirements determined by the regulator.  The license became the first approval granted by the FCA to a crypto firm in the last six months.  The FCA has seen crypto as a high-risk asset class for several years despite Prime Minister Rishi Sunak's push to make the country a global crypto hub since his finance ministry. Only 42 crypto-related firms have managed to register with the FCA so far.