The UK FCA has given crypto startup Crypterium a subscription and now its wallet app is available in over 170 countries the company notes, so we’re reading more about the money news today.
The UK crypto service provider Crypterium is the latest company to secure registration with the UK FCA. Crypterium officially announced that it was recently registered by the FCA to provide crypto services to local citizens and businesses as it was one of the few companies to pass the registration process. According to data on the official FCA website, Crypterium is registered to operate “a range of crypto-asset operations” while also complying with the country’s AML regulations.
The subscription has been authorized by Crypterium to continue providing crypto wallet services, including payment and cryptocurrency trading services, to everyone in the UK, as stated in the announcement. Registration is important given the upcoming Brexit measures, which will allow Crypterium to provide UK businesses with the same functionality as other supporting countries. According to the announcement, the crypto wallet app is available in more than 170 countries and has 400,000 customers since its launch. Crypterium CEO Steven Parker said:
“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. Not only do we offer an excellent range of services, but we can now show that they are carried out in full compliance with some of the strictest assessment criteria. “
The company notes that applying for an FCA is tedious, taking around 18 months to review policies and processes before approval is granted. By registering with the FCA, Crypterium joins a number of companies that the UK authorities have registered to date, including two CoinJar linked to the Gemini crypto exchange, crypto-friendly bank Ziglu, Digivautl by Diginex and Arcax. Earlier this year, the FCA warned of 111 unregistered crypto companies while 51 withdrew their license applications with the FCA under strict local AML regulations.
As recently reported, the FCA has issued a crypto TikTok and YouTube campaign warning to young investors, the latest in a long line of crypto-related warnings announced by the governing body. The British FCA has launched video campaigns on Tiktok and YouTube to warn younger investors about cryptocurrencies.
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