British cryptocurrency services provider Crypterium has become the latest crypto firm to secure registration from the United Kingdom’s Financial Conduct Authority (FCA). Crypterium officially announced on Oct. 25 that the FCA had granted registration to provide cryptocurrency services to local citizens and companies, becoming one of few companies to have passed the registration process. FCA has been quite strict in granting registrations to cryptocurrency firms.
Crypterium to continue providing its crypto wallet services.
According to data on the FCA’s official website, Crypterium has been registered to operate “certain crypto asset activities” in compliance with the country’s Anti-Money Laundering (AML) regulations since Oct. 11. The registration officially authorized Crypterium to continue providing its crypto wallet services, including crypto trading and payment services, to “practically everybody” in the United Kingdom, the announcement notes. The registration is particularly important amid the upcoming Brexit measures, allowing Crypterium to provide the same level of functionality to U.K. businesses as in other supported countries. Crypterium’s crypto wallet application is available in more than 170 countries.
Crypterium joins a handful of crypto companies that are registered.
The firm noted that the FCA registration is extensive, taking “18 months of policies and processes assessment before approval is granted. By obtaining the FCA registration, Crypterium joins a handful of companies that the U.K. authority has registered so far, including two firms affiliated with Winklevoss twins’ crypto exchange Gemini, Australian exchange CoinJar, crypto-friendly bank Ziglu, Archax, Diginex’s Digivault, and others. Earlier this year, the FCA warned against 111 unregistered crypto companies. Previously, 51 companies reportedly withdrew their licensing applications with the U.K.’s FCA amid strict local AML regulations.