World Crypto Global
- Written by: Jared Kirui
- Wed, 14 Jun 2023
- Israel
The UK arm of cryptocurrency exchange, Bitstamp, has been registered by the Financial Conduct Authority (FCA) as one of the digital asset exchanges that comply with the country’s anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. With the registration, Bitstamp UK can provide services such keeping custody of crypto assets, facilitating fiat purchases of cryptocurrencies and enabling cryptocurrency trading, the company said in a statement.FCA Registers 42 Crypto Firms The Luxembourg-based company's registration brings the number of the registered crypto firms compliant with FCA's AML/CTF regulations to 42. Moreover, the registration brings Bitstamp’s licenses and registrations globally to 52. Bitstamp is one of the digital asset exchanges that has recently seen a significant expansion of its services in the European market. Towards the end of 2022, Finance Magnates reported that the company received a virtual asset service provider (VASP) registration in Spain four months after acquiring a similar approval in Italy.The cryptocurrency exchange already operates in Luxembourg and the Netherlands. However, the approval in Spain enables it to expand the suite of services it offers which includes electronic custody services. Meanwhile, Interactive Brokers, a Nasdaq-traded company based in Connecticut, was also added to FCA registry alongside Bitstamp. Interactive Brokers is a brokerage firm that provides trading services in forex, stocks, options, fixed incomes, and funds.The UK Prepares Crypto LawsThe FCA's registration of Bistamp and Nasdaq marks the first time in the past six months the British watchdog has added new companies to the AML/CFT regulations. The registrations come as the UK works to streamline its regulations for digital assets. In February, His Majesty’s Treasury published a consultation paper describing the risks related to the sector and the opportunities that could be exploited.Despite softening its stance on digital assets, the FCA continues to crackdown on cryptocurrency Automated Teller Machines (ATMs). In May, the regulator ordered the closure of three crypto ATMs operated in Exeter, Nottingham, and Sheffield, maintaining that crypto ATMs operating in the UK without a license are illegal.CONSOB blacklists four; Vantage's marketing exec leaves; read today's news nuggets. This article was written by Jared Kirui at www.financemagnates.com.
