The Financial Conduct Authority listed 42 registered crypto firms in compliance with the U.K. government's Anti-Money Laundering and Combating the Financing of Terrorism rules.
The United Kingdom arm of cryptocurrency exchange Bitstamp has joined the list of registered firms under the country’s Financial Conduct Authority.
According to the FCA list of registered cryptoasset firms as of June 13, Bitstamp U.K. Limited and Interactive Brokers Limited became the first companies to join other registered entities in the U.K. after roughly 6 months — the FCA added Hidden Road Partners and MoonPay in December 2022. The FCA listed 42 registered crypto firms in compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) requirements, among others.
We are proud to be recognized by the FCA as providing the gold standard in crypto compliance to customers in the UK.
— Bitstamp (@Bitstamp) June 13, 2023
Bitstamp is now registered as a cryptoasset business with the UK’s Financial Conduct Authority (FCA).
Thank you for your continued support!
More info:… pic.twitter.com/SRO9LTqTux
In the U.K., firms permitted to “carry out crypto asset activities” must either be registered with the FCA or have been granted temporary status to operate. The financial watchdog previously ordered Binance Markets Limited to halt its U.K. operations as well as issued “shut down or face further action“ orders for local crypto ATM operators.
Cointelegraph reached out to Bitstamp, but did not receive a response at the time of publication. Blockchain-based payment platform Ripple announced in a May shareholder conference call that it had taken a minority stake in Bitstamp in the first quarter of 2023.
Related: UK FCA to take action against unregistered, illegal cryptocurrency ATMs
Lawmakers in the U.K. have been proposing a comprehensive crypto asset regulatory framework aimed at giving crypto a more prominent role in the nation’s financial services sector as well as promote an approach to encourage innovation in the space. At the time of publication, the government appeared to be gathering responses to the consultation paper on the framework and considering the next steps moving forward.
Magazine: Best and worst countries for crypto taxes — plus crypto tax tips
via cointelgraph.com
