British cryptocurrency services provider Crypterium is the latest crypto firm to secure registration from the United Kingdoms Financial Conduct Authority (FCA).
Crypterium officially announcedon Oct. 25 that it has recently been registered by the FCA to provide cryptocurrency services to local citizens and companies, becoming one of few companies to have passed the registration process.
According to data on the FCAs official website, Crypterium has been registered to operate certain crypto asset activities in compliance with the countrys Anti-Money Laundering (AML) regulations since Oct. 11.
The registration officially authorized Crypterium to continue providing its crypto wallet services, including crypto trading and payment services, to practically everybody in the United Kingdom, the announcement notes. The registration is particularly important amid the upcoming Brexit measures, allowing Crypterium to provide the same level of functionality to U.K. businesses as in other supported countries.
According to the announcement, Crypteriums crypto wallet application is available in more than 170 countries and has amassed over 400,000 clients since its launch.
Becoming an FCA-registered firm is a fantastic opportunity. From now on, interested parties will view Crypterium in a new light, a company that puts user security and accessibility first. Not only do we provide an excellent set of services, but now we can show that these are done with full compliance of some of the toughest assessment criteria, Crypterium CEO Steven Parker said.
The firm noted that the FCA registration is extensive, taking 18 months of policies and processes assessment before approval is granted. The firm did not immediately respond to Cointelegraphs request for comment.
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By obtaining the FCA registration, Crypterium joins a handful of companies that the U.K. authority has registeredso far, including two firms affiliated with Winklevoss twins crypto exchange Gemini, Australian exchange CoinJar, crypto-friendly bank Ziglu, Archax, Diginexs Digivault and others. Earlier this year, the FCA warned against 111 unregistered crypto companies. Previously, 51 companies reportedly withdrew their licensing applications with the FCA amid strict local AML regulations.
