Digital asset exchange Crypto.com has reportedly received the UK Financial Conduct Authority’s (FCA) approval to conduct crypto asset activities in the country. According to the FCA’s Financial Services Register, FORIS DAX UK LIMITED (a registered U.K. trading name for Crypto.com) is listed as an entity authorized to conduct “certain crypto asset activities” with money laundering regulation status. As defined by the FCA, crypto asset activity includes exchanging crypto assets for money or money for crypto assets, automating a machine to do so, and exchanging crypto assets for other crypto assets. Any businesses carrying on crypto asset activity in the UK must register with the FCA to comply with money laundering, terrorist financing and transfer of funds regulations.
Sources: https://cutt.ly/gXcpqBt
