Cryptocurrency wallet and exchange provider Blockchain.com has gained regulatory approval in the United Kingdom almost four years after apparently giving up.
Blockchain.com was added on Tuesday to the Financial Conduct Authority’s (FCA) register of authorized crypto companies under its trading name “BC Operations.”
The London-based company decided to withdraw its FCA license application in March 2022 after failing to obtain approval before an imminent deadline. Blockchain.com moved to its registered business in Lithuania.
Registration in the United Kingdom allows Blockchain.com to carry out certain cryptocurrency-related activities in the United Kingdom as long as it complies with money laundering and terrorist financing regulations.
“Blockchain.com now operates under the same rigorous standards as traditional finance and banks in the UK,” the company said in a post on X on Tuesday.
However, the FCA’s cryptocurrency business licensing regime falls short of full financial services authorisation; This will be introduced under a new licensing framework that will come into force from October next year.
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