The UK crypto service provider Crypterium is the latest crypto company to secure registration with the UK Financial Conduct Authority (FCA).
Crypterium officially announced on October 25th that it was recently registered with the FCA to provide cryptocurrency services to local citizens and businesses, making it one of the few companies to pass the procedure.
According to data on the FCA official website, Crypterium has been around since Nov.
Registration has officially enabled Crypterium to continue offering its crypto wallet services, including payment and cryptocurrency trading services, to “virtually everyone” in the Kingdom. Registration is particularly important in view of the upcoming Brexit measures as Crypterium can offer UK companies the same range of functions as in other supported countries.
According to the announcement, Crypterium’s crypto wallet app is available in over 170 countries and has attracted over 400,000 customers since its launch.
“Becoming an FCA registered company is a great opportunity. From now on, prospective customers will see Crypterium in a new light, a company that puts security and usability first. In addition to providing a range of outstanding services, we can now demonstrate that these services are delivered in full compliance with some of the strictest assessment criteria, ”said Steven Parker, CEO of Crypterium.
The company notes that the FCA registration is extensive and “takes 18 months to review policies and procedures before approval”. The company did not immediately respond to Cointelegraph’s request for comment.
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Through FCA registration, Crypterium joins a number of companies that the UK authorities have registered to date, including two that are linked to the couple’s cryptocurrency exchange: Winklevoss Gemini, Australian exchange CoinJar, crypto-friendly bank Ziglu, Arcax, Digivault from Diginex and others. Earlier this year, the FCA warned of 111 unregistered crypto companies. Previously, 51 companies reportedly withdrew their license applications from the FCA due to strict local AML regulations.