What to know : Blockchain.com has won regulatory approval in the U.K nearly four years after seemingly giving up. Blockchain.com was added to the Financial Conduct Authority's (FCA) registry of licensed crypto companies on Tuesday under its trading name "BC Operations." The London-based company elected to withdraw its application for FCA licensing in March 2022 having not won approval ahead of an impending deadline.
Cryptocurrency exchange and wallet provider Blockchain.com has won regulatory approval in the U.K nearly four years after seemingly giving up.
Blockchain.com was added to the Financial Conduct Authority's (FCA) registry of licensed crypto companies on Tuesday under its trading name "BC Operations."
The London-based company elected to withdraw its application for FCA licensing in March 2022 having not won approval ahead of an impending deadline. Blockchain.com pivoted to its registered business in Lithuania.
Registration in the U.K. allows Blockchain.com to carry out certain crypto-related activities in the U.K. on the basis that it complies with money laundering and counter-terrorist financing rules.
"Blockchain.com is now operating under the same rigorous standards as traditional finance and banks in the U.K.," the company said in a post on X on Tuesday.
The FCA's crypto company licensing regime, however, stops short of full financial services authorization — this is set to be introduced under a new licensing framework taking effect from October next year.
Read More: Ripple wins UK regulatory approval from Financial Conduct Authority
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