• Bitstamp is presently amongst 42 firms listed as registered cryptocurrency companies by the Monetary Conduct Authority (FCA).
• The UK division of the trade was added to the record on June 13, 2023.
• The corporate, together with different platforms resembling eToro, Revolut and Moonpay, has joined the FCA record of firms complying with cash laundering, terrorist financing and regulatory switch (MLR).

cryptocurrency trade bit stamp has been registered as a cryptocurrency enterprise by the UK’s Monetary Conduct Authority (FCA), becoming a member of the small record of formally registered cryptocurrency firms within the UK.

Bitstamp UK Restricted is FCA’s sole cryptocurrency trade register Thus far, it’s anticipated to start out operations by 2023, and its license has been authorized as compliant with the Cash Laundering, Terrorist Financing and Transfers Laws (MLR) 2017, efficient June 13.

“This achievement is a recognition of Bitstamp’s continued and unwavering dedication to working on the highest requirements. Moreover, we comply with strict necessities set by the FCA to make sure that our platform gives compliant and safe entry to cryptocurrencies within the UK.‘” Bitstamp wrote. weblog announcement on tuesday.

One other platform with FCA’s consent was on-line buying and selling platform Interactive Brokers Restricted.

Bitstamp Provides eToro and Revolut to FCA Record

The FCA presently lists 42 cryptocurrency and cryptocurrency-related firms registered beneath the MLR. This contains Ziglu Restricted, Gemini Funds UK LTD, Zumo Monetary Providers Restricted, Coinpass Restricted, Baanx.com Ltd, ICONOMI LTD, Constancy Digital Property, Bitpanda Custody Ltd, Wintermute Buying and selling LTD, Galaxy Digital UK Restricted, MoonPay (UK) Restricted , eToro (UK) Ltd, and Revolut.

Within the case of Bitstamp, a transfer by UK regulators has resulted within the trade gaining approval throughout 52 jurisdictions around the globe. The trade serves each institutional and particular person clients, providing cryptocurrency custody providers, fiat-to-cryptocurrency shopping for and promoting, and crypto-to-crypto buying and selling.

The registration comes amid a crackdown on US crypto exchanges during which each Binance and Coinbase have been sued by the US Securities and Trade Fee (SEC). The U.S. crypto regulatory atmosphere is much less favorable, which is why Asia, particularly Hong Kong and the UAE, wish to capitalize on it of their quest to develop into cryptocurrency hubs.