Bitstamp, the UK arm of cryptocurrency exchanges, has joined the list of companies registered under the country’s Financial Conduct Authority.
According to the FCA’s list of registered crypto-asset firms as of June 13, Bitstamp UK Limited and Interactive Brokers Limited had become First companies to join other UK registered entities after nearly 6 months – FCA added partners Hidden Road and MoonPay in December 2022. FCA listed 42 registered crypto companies in compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) requirements, among other things.
We are proud to be recognized by the Financial Conduct Authority (FCA) for providing the gold standard in cryptocurrency compliance to UK clients.
Bitstamp is now registered as a cryptoasset company with the UK’s Financial Conduct Authority (FCA).
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– Bitstamp (Bitstamp) June 13, 2023
In the UK, companies permitted to “carry out crypto-asset activities” must either be registered with the Financial Conduct Authority (FCA) or granted temporary status to operate. The FCA previously ordered Binance Markets Limited to cease operations in the UK, and also issued “decommissioning or face further action” orders to local ATM operators.
Cointelegraph reached out to Bitstamp, but did not receive a response at the time of publication. Blockchain-based payment platform Ripple announced on a shareholder conference call in May that it had acquired a minority stake in Bitstamp in the first quarter of 2023.
Related: The UK’s Financial Conduct Authority (FCA) is taking action against unregistered and illegal cryptocurrency ATMs
UK lawmakers are proposing a comprehensive regulatory framework for crypto assets aimed at giving cryptocurrency a more prominent role in the country’s financial services sector as well as fostering an approach to encouraging innovation in the space. At the time of publication it appeared that the Government was gathering responses to the framework consultation paper and considering the next steps moving forward.
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