Crypterium, an English cryptocurrency services provider, is the most recent cryptocurrency firm to have authorized a registration from the United Kingdom’s Financial Conduct Authority (FCA).
Crypterium formally declared that it has very recently been registered by the FCA to furnish the public and organizations with cryptocurrency services. It is one of the very few companies to have cleared the registration process.
Financial Conduct Authority (FCA) has provided official data on its website, where Crypterium has been registered to function while working within the limits of Britain’s Anti-Money Laundering (AML) mandate published on October 11. The authorization has formally allowed the cryptocurrency service provider to carry on supplying crypto wallet services, which also involve crypto trading and payment services to almost everybody in the United Kingdom. This registration is specifically significant following the incoming Brexit regulations, and will potentially enable Crypterium to provide the same level of operationality to organizations and corporations in the UK.
The recently published announcement also noted that Crypterium’s crypto wallet services are available in around 170 countries, and has been able to gather around 400,000 customers since its establishment.
According to Crypterium’s Chief Executive Officer Steven Parker, being registered as an FC firm is an opportunity, since now people can identify Crypterium as a company that values safety and availability first. The resilient evaluation standard has given the company a huge amount of credibility, he added.
However, the crypto company acknowledged the fact that the registration process itself was very exhausting. According to the firm, around 18 months of rules and policy evaluation was necessary.
The FCA registration has allowed Crypterium to stand tall with a very few leading companies in the UK that have been approved so far. Some firms that are registered include Gemini, CoinJar, Ziglu, Archax, Digivault, and a few others. A year ago, FCA had issued a warning against more than 100 unauthorized crypto firms.
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Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.
