Blockchain.com Secures UK Regulatory Approval After Four-Year Wait
- Blockchain.com received approval from the Financial Conduct Authority (FCA) to operate as a licensed crypto company in the U.K.
- The company was added to the FCA’s registry under its trading name “BC Operations” on Tuesday.
- In March 2022, Blockchain.com withdrew its previous application for FCA licensing due to an impending deadline without approval.
- The new registration allows Blockchain.com to conduct specific crypto-related activities while adhering to money laundering and counter-terrorist financing regulations.
- Full financial services authorization is expected to be introduced in October next year under a new licensing framework.
This regulatory approval marks a significant turnaround for Blockchain.com, which had pivoted operations to Lithuania after withdrawing its U.K. application. The company’s compliance with stringent financial standards aligns it with traditional finance entities operating in the region.
With this new registration, Blockchain.com can now engage in regulated activities in the U.K., reflecting its commitment to meeting compliance standards alongside traditional banks.(Source)
